Graphic Packaging (NYSE:GPK) Announces Earnings Results

Graphic Packaging (NYSE:GPK) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03, Briefing.com reports. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.38 billion. Graphic Packaging had a return on equity of 35.66% and a net margin of 7.67%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Graphic Packaging updated its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Price Performance

GPK traded up $0.11 during trading on Wednesday, reaching $25.96. 1,490,935 shares of the company were exchanged, compared to its average volume of 2,842,763. The company’s 50-day moving average is $27.51 and its two-hundred day moving average is $25.05. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 11.00 and a beta of 0.84. The company has a quick ratio of 0.42, a current ratio of 1.10 and a debt-to-equity ratio of 1.66. Graphic Packaging has a 12-month low of $20.07 and a 12-month high of $29.50.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. Graphic Packaging’s dividend payout ratio (DPR) is 17.02%.

Insider Buying and Selling

In other Graphic Packaging news, EVP Joseph P. Yost sold 70,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 205,231 shares in the company, valued at approximately $5,377,052.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GPK. Wells Fargo & Company restated an “underweight” rating and issued a $21.00 price objective 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. Citigroup upped their price target on Graphic Packaging from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Robert W. Baird upped their price target on Graphic Packaging from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.44.

About Graphic Packaging

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.