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

Packaging Co. of America (NYSE:PKG) issued an update on its second quarter 2024 earnings guidance on Monday morning. 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.

Packaging Co. of America Price Performance

PKG stock opened at $179.29 on Tuesday. 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 company has a market capitalization of $16.09 billion, a PE ratio of 21.14, a P/E/G ratio of 4.33 and a beta of 0.78. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The business’s fifty day moving average price is $181.44 and its 200 day moving average price is $167.88.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion for 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS. On average, sell-side analysts anticipate that Packaging Co. of America will post 8.31 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.79%. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

Wall Street Analyst Weigh In

PKG has been the subject of several analyst reports. StockNews.com cut Packaging Co. of America from a buy rating to a hold rating in a research note on Friday. Citigroup boosted their target price on Packaging Co. of America from $172.00 to $183.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Truist Financial boosted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a buy rating in a research note on Thursday, January 4th. Seaport Res Ptn cut Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. Finally, BNP Paribas cut Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of Hold and an average target price of $171.29.

Insiders Place Their Bets

In other news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction 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 of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated 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 owns 187,647 shares in the company, valued at $33,975,365.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. Corporate insiders own 1.70% of the company’s stock.

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.