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

Graphic Packaging (NYSE:GPK - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.650-2.850 for the period, compared to the consensus EPS estimate of 2.690. The company issued revenue guidance of -.

Graphic Packaging Stock Down 7.1 %

Graphic Packaging stock traded down $1.98 during midday trading on Tuesday, reaching $25.85. The stock had a trading volume of 8,593,288 shares, compared to its average volume of 2,860,203. The stock has a market capitalization of $7.94 billion, a P/E ratio of 11.00 and a beta of 0.84. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.42 and a current ratio of 1.10. The firm's fifty day simple moving average is $27.49 and its 200-day simple moving average is $25.01. Graphic Packaging has a 1-year low of $20.07 and a 1-year high of $29.50.

Graphic Packaging (NYSE:GPK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The firm had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $2.40 billion. Graphic Packaging had a return on equity of 35.66% and a net margin of 7.67%. The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. As a group, analysts expect that Graphic Packaging will post 2.7 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. Graphic Packaging's payout ratio is 17.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup upped their target price on Graphic Packaging from $32.00 to $34.00 and gave the company a buy rating in a research report on Thursday, April 4th. Wells Fargo & Company reaffirmed an underweight rating and set a $21.00 price target on shares of Graphic Packaging in a research note on Monday, April 1st. StockNews.com downgraded Graphic Packaging from a buy rating to a hold rating in a research note on Thursday, February 22nd. Finally, Robert W. Baird upped their price target on Graphic Packaging from $28.00 to $30.00 and gave the stock an outperform rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $28.44.

Insider Transactions at Graphic Packaging

In other news, EVP Joseph P. Yost sold 70,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $26.20, for a total value of $1,834,000.00. Following the completion of the sale, the executive vice president now directly owns 205,231 shares of the company's stock, valued at $5,377,052.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Graphic Packaging Company Profile

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.