Graphic Packaging (NYSE:GPK) Issues FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -2.750 for the period, compared to the consensus estimate of 2.700. The company issued revenue guidance of -.

Graphic Packaging Stock Down 0.0 %

Shares of GPK opened at $29.86 on Thursday. The stock has a 50 day moving average price of $28.69 and a 200 day moving average price of $27.90. Graphic Packaging has a one year low of $20.07 and a one year high of $30.66. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 5.12 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Graphic Packaging will post 2.66 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Analysts Set New Price Targets

GPK has been the topic of a number of analyst reports. Truist Financial reiterated a buy rating and set a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They issued a buy rating and a $35.20 price objective for the company. Robert W. Baird lifted their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an underweight rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Graphic Packaging from a hold rating to a buy rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $31.15.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.