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

Packaging Co. of America (NYSE:PKG) updated its second quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.07 for the period, compared to the consensus estimate of $2.22.

Wall Street Analyst Weigh In

Several research firms have recently commented on PKG. StockNews.com cut shares of Packaging Co. of America from a buy rating to a hold rating in a research report on Friday. Bank of America upgraded shares of Packaging Co. of America from a neutral rating to a buy rating and raised their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. BNP Paribas downgraded shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price target on the stock. in a report on Friday, April 12th. Truist Financial lifted their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a report on Thursday, January 4th. Finally, Citigroup lifted their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a neutral rating in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $171.29.

Packaging Co. of America Trading Down 0.3 %

PKG stock traded down $0.60 during mid-day trading on Monday, reaching $179.29. 663,316 shares of the stock traded hands, compared to its average volume of 688,999. 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 one year low of $122.20 and a one year high of $191.27. The stock has a market capitalization of $16.09 billion, a PE ratio of 21.22, a PEG ratio of 4.33 and a beta of 0.78. The business has a 50-day moving average price of $181.22 and a two-hundred day moving average price of $167.69.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 earnings per share. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Insider Buying and Selling

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $31,967,034. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 over the last three months. 1.70% of the stock is owned by company 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.