Packaging Corp Of America Expected to Post Q1 2020 Earnings of $1.88 Per Share (PKG)

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Packaging Corp Of America (NYSE:PKG) – Equities researchers at Seaport Global Securities issued their Q1 2020 earnings per share estimates for Packaging Corp Of America in a research note issued to investors on Friday, April 12th. Seaport Global Securities analyst M. Weintraub anticipates that the industrial products company will post earnings per share of $1.88 for the quarter. Seaport Global Securities also issued estimates for Packaging Corp Of America’s Q2 2020 earnings at $1.86 EPS, Q3 2020 earnings at $1.94 EPS, Q4 2020 earnings at $1.77 EPS and FY2020 earnings at $7.45 EPS.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $2.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.02. Packaging Corp Of America had a net margin of 10.52% and a return on equity of 30.83%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.77 billion.

Several other equities research analysts have also recently weighed in on PKG. ValuEngine cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Zacks Investment Research cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Bank of America reiterated a “buy” rating and set a $112.00 price objective (up from $105.00) on shares of Packaging Corp Of America in a research report on Friday, April 5th. Wells Fargo & Co cut shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $110.00 to $93.00 in a research report on Wednesday, January 9th. Finally, Citigroup decreased their price objective on shares of Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $102.22.

PKG opened at $101.51 on Monday. Packaging Corp Of America has a twelve month low of $77.90 and a twelve month high of $124.70. The company has a quick ratio of 1.90, a current ratio of 3.05 and a debt-to-equity ratio of 0.94. The firm has a market cap of $9.59 billion, a PE ratio of 12.64, a PEG ratio of 1.45 and a beta of 1.81.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Corp Of America’s dividend payout ratio is presently 39.35%.

A number of hedge funds and other institutional investors have recently modified their holdings of PKG. JPMorgan Chase & Co. boosted its stake in Packaging Corp Of America by 694.5% during the third quarter. JPMorgan Chase & Co. now owns 971,659 shares of the industrial products company’s stock worth $106,582,000 after acquiring an additional 849,363 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Packaging Corp Of America by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 1,585,600 shares of the industrial products company’s stock worth $173,925,000 after acquiring an additional 88,042 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Packaging Corp Of America by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 696,594 shares of the industrial products company’s stock worth $76,412,000 after acquiring an additional 26,210 shares in the last quarter. Deutsche Bank AG boosted its stake in Packaging Corp Of America by 47.0% during the third quarter. Deutsche Bank AG now owns 332,902 shares of the industrial products company’s stock worth $36,513,000 after acquiring an additional 106,447 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Packaging Corp Of America by 14.0% in the third quarter. Pacer Advisors Inc. now owns 4,989 shares of the industrial products company’s stock valued at $547,000 after buying an additional 612 shares in the last quarter. 86.88% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Earnings History and Estimates for Packaging Corp Of America (NYSE:PKG)

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