Packaging Co. of America (NYSE:PKG - Free Report) - Equities research analysts at Zacks Research upped their Q2 2024 earnings estimates for Packaging Co. of America in a report released on Monday, May 6th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings per share of $2.07 for the quarter, up from their previous estimate of $1.94. The consensus estimate for Packaging Co. of America's current full-year earnings is $8.21 per share. Zacks Research also issued estimates for Packaging Co. of America's Q3 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.09 EPS, FY2024 earnings at $8.08 EPS, Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.25 EPS, Q3 2025 earnings at $2.26 EPS, Q4 2025 earnings at $2.25 EPS, FY2025 earnings at $8.77 EPS and FY2026 earnings at $9.71 EPS.
Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis.
Other equities analysts have also recently issued reports about the company. Seaport Res Ptn cut Packaging Co. of America from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. BNP Paribas downgraded Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price target for the company. in a research note on Friday, April 12th. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 19th. Bank of America upgraded shares of Packaging Co. of America from a "neutral" rating to a "buy" rating and lifted their target price for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Finally, Citigroup dropped their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a "neutral" rating on the stock in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $173.57.
Check Out Our Latest Analysis on Packaging Co. of America
Packaging Co. of America Stock Performance
Shares of NYSE:PKG traded down $0.61 on Wednesday, hitting $178.54. The company's stock had a trading volume of 405,646 shares, compared to its average volume of 685,953. The company has a market capitalization of $16.02 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The stock's 50-day moving average is $182.41 and its two-hundred day moving average is $169.64.
Institutional Investors Weigh In On Packaging Co. of America
A number of institutional investors have recently added to or reduced their stakes in PKG. Bleakley Financial Group LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter valued at about $215,000. Cognios Beta Neutral Large Cap Fund LP bought a new stake in Packaging Co. of America in the first quarter valued at $328,000. Avantax Advisory Services Inc. raised its stake in Packaging Co. of America by 14.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,040 shares of the industrial products company's stock worth $1,905,000 after buying an additional 1,231 shares during the period. QRG Capital Management Inc. raised its stake in shares of Packaging Co. of America by 39.0% in the first quarter. QRG Capital Management Inc. now owns 41,463 shares of the industrial products company's stock worth $7,869,000 after purchasing an additional 11,626 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co. of America in the 1st quarter worth $43,000. 89.78% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, VP Thomas A. Hassfurther sold 14,191 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares of the company's stock, valued at $31,967,034. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares of the company's stock, valued at $33,975,365.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,041 shares of company stock worth $6,799,177. Insiders own 1.70% of the company's stock.
Packaging Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.80%. Packaging Co. of America's dividend payout ratio is presently 62.50%.
Packaging Co. of America Company Profile
(
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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.
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