Packaging Co. of America (NYSE:PKG) Issues Q2 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG - Get Free Report) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 2.070-2.070 for the period, compared to the consensus EPS estimate of 2.220. The company issued revenue guidance of -. Packaging Co. of America also updated its Q2 guidance to $2.07 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America raised 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 report on Monday, March 4th. Seaport Res Ptn lowered Packaging Co. of America from a buy rating to a neutral rating in a report on Monday, January 29th. BNP Paribas lowered Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Citigroup lifted their target price on Packaging Co. of America from $172.00 to $183.00 and gave the company a neutral rating in a report on Thursday, April 4th. Finally, Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $171.29.

Packaging Co. of America Price Performance

Shares of PKG traded down $0.60 during trading hours on Monday, reaching $179.29. 662,795 shares of the company's stock traded hands, compared to its average volume of 689,028. The stock has a market cap of $16.09 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The firm's 50 day simple moving average is $181.44 and its 200-day simple moving average is $167.88. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. Equities analysts expect that Packaging Co. of America will post 8.31 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.79%. Packaging Co. of America's dividend payout ratio (DPR) is presently 58.96%.

Insider Activity

In related news, CFO Robert P. Mundy sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares of the company's stock, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is currently owned by insiders.

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.