Seaport Res Ptn Has Bullish Estimate for PKG Q3 Earnings

Packaging Co. of America (NYSE:PKG) – Analysts at Seaport Res Ptn increased their Q3 2024 earnings per share estimates for shares of Packaging Co. of America in a report released on Monday, October 21st. Seaport Res Ptn analyst M. Weintraub now anticipates that the industrial products company will earn $2.55 per share for the quarter, up from their previous estimate of $2.50. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.73 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America’s Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $8.85 EPS and FY2025 earnings at $11.00 EPS.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share.

Several other research analysts have also weighed in on PKG. Truist Financial upped their price objective on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.00.

Packaging Co. of America Trading Up 5.5 %

Shares of PKG opened at $228.65 on Wednesday. Packaging Co. of America has a 1-year low of $145.02 and a 1-year high of $231.30. The business’s 50-day moving average price is $210.13 and its 200 day moving average price is $193.45. The stock has a market capitalization of $20.54 billion, a P/E ratio of 28.55, a P/E/G ratio of 4.33 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.19%. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its position in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after buying an additional 54 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after acquiring an additional 56 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the period. Evergreen Capital Management LLC increased its holdings in Packaging Co. of America by 2.4% in the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 57 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after buying an additional 59 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.