Packaging Co. of America (PKG) Scheduled to Post Quarterly Earnings on Tuesday

Packaging Co. of America (NYSE:PKG) is set to release its earnings data after the market closes on Tuesday, October 22nd. Analysts expect Packaging Co. of America to post earnings of $2.47 per share for the quarter. Packaging Co. of America has set its Q3 guidance at $2.45 EPS and its Q3 2024 guidance at 2.450-2.450 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm posted $2.31 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts expect Packaging Co. of America to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Packaging Co. of America Stock Performance

NYSE PKG opened at $219.98 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 4.25 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $220.09. The business has a fifty day moving average of $207.13 and a 200-day moving average of $192.12.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.27%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PKG shares. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America lifted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $199.50.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Company Profile

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.