Cantor Fitzgerald Forecasts Ranpak FY2024 Earnings

Ranpak Holdings Corp. (NYSE:PACK) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Ranpak in a research report issued to clients and investors on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen expects that the company will post earnings of ($0.20) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $11.50 target price on the stock.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $92.20 million for the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share.

Separately, Robert W. Baird reduced their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Ranpak Stock Performance

NYSE PACK opened at $7.13 on Monday. The company has a market cap of $593.62 million, a P/E ratio of -29.71 and a beta of 2.42. Ranpak has a 1-year low of $3.85 and a 1-year high of $9.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The stock has a 50-day moving average of $6.98 and a two-hundred day moving average of $6.76.

Institutional Trading of Ranpak

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACK. Dimensional Fund Advisors LP grew its position in shares of Ranpak by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after buying an additional 542,464 shares during the last quarter. Meros Investment Management LP boosted its stake in Ranpak by 32.6% in the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after acquiring an additional 231,779 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Ranpak during the second quarter worth about $1,178,000. State Street Corp increased its position in shares of Ranpak by 15.2% during the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after purchasing an additional 149,446 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Ranpak by 146.8% in the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after purchasing an additional 134,910 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.