Wall Street brokerages expect Packaging Corp Of America (NYSE:PKG) to announce $1.63 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Packaging Corp Of America’s earnings. The lowest sales estimate is $1.58 billion and the highest is $1.66 billion. Packaging Corp Of America posted sales of $1.54 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Packaging Corp Of America will report full-year sales of $1.63 billion for the current fiscal year, with estimates ranging from $6.60 billion to $6.85 billion. For the next year, analysts forecast that the firm will report sales of $6.89 billion per share, with estimates ranging from $6.82 billion to $6.98 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Packaging Corp Of America.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.05. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 30.48%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business posted $1.23 EPS. Packaging Corp Of America’s quarterly revenue was up 14.1% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of PKG. Toronto Dominion Bank boosted its holdings in Packaging Corp Of America by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 128 shares during the period. Advantage Investment Management LLC bought a new stake in Packaging Corp Of America in the 3rd quarter valued at $137,000. Field & Main Bank bought a new stake in Packaging Corp Of America in the 4th quarter valued at $168,000. Flagship Harbor Advisors LLC bought a new stake in Packaging Corp Of America in the 4th quarter valued at $205,000. Finally, Dumont & Blake Investment Advisors LLC bought a new stake in Packaging Corp Of America in the 4th quarter valued at $206,000. 87.06% of the stock is owned by institutional investors and hedge funds.
Shares of Packaging Corp Of America (NYSE:PKG) traded down $1.02 on Friday, hitting $119.20. 670,035 shares of the stock traded hands, compared to its average volume of 881,250. Packaging Corp Of America has a 52 week low of $88.47 and a 52 week high of $131.13. The firm has a market cap of $11,250.00, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.93 and a beta of 1.84. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.11%. Packaging Corp Of America’s dividend payout ratio is currently 35.59%.
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Packaging Corp Of America Company Profile
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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