Packaging Co. of America (NYSE:PKG) Expected to Announce Quarterly Sales of $1.79 Billion


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Equities analysts expect that Packaging Co. of America (NYSE:PKG) will report $1.79 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Packaging Co. of America’s earnings. The highest sales estimate is $1.86 billion and the lowest is $1.72 billion. Packaging Co. of America reported sales of $1.54 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The company is scheduled to announce its next earnings report on Tuesday, July 27th.

On average, analysts expect that Packaging Co. of America will report full-year sales of $7.29 billion for the current financial year, with estimates ranging from $7.18 billion to $7.38 billion. For the next fiscal year, analysts expect that the firm will post sales of $7.50 billion, with estimates ranging from $7.38 billion to $7.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Packaging Co. of America.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Sunday, April 25th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.29. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Packaging Co. of America had a return on equity of 18.67% and a net margin of 7.11%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 EPS.

Several brokerages have recently issued reports on PKG. Zacks Investment Research cut Packaging Co. of America from a “buy” rating to a “hold” rating and set a $143.00 price objective for the company. in a research note on Tuesday, January 5th. Jefferies Financial Group began coverage on Packaging Co. of America in a research note on Tuesday, January 5th. They set a “hold” rating and a $130.00 target price for the company. Morgan Stanley boosted their target price on Packaging Co. of America from $131.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. UBS Group began coverage on Packaging Co. of America in a research note on Tuesday, January 12th. They set a “sell” rating and a $146.00 target price for the company. Finally, Argus boosted their target price on Packaging Co. of America from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $137.20.

Shares of PKG traded up $2.41 during midday trading on Thursday, hitting $151.88. The company had a trading volume of 545,113 shares, compared to its average volume of 635,924. The company’s 50-day simple moving average is $138.05 and its 200-day simple moving average is $134.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.54 and a current ratio of 3.54. The firm has a market capitalization of $14.43 billion, a P/E ratio of 30.07, a P/E/G ratio of 4.14 and a beta of 1.07. Packaging Co. of America has a 1 year low of $86.93 and a 1 year high of $151.98.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Monday, March 15th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, March 12th. This represents a $4.00 annualized dividend and a dividend yield of 2.63%. Packaging Co. of America’s dividend payout ratio is currently 52.29%.

Large investors have recently modified their holdings of the company. Candriam Luxembourg S.C.A. lifted its position in shares of Packaging Co. of America by 978.8% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 98,444 shares of the industrial products company’s stock valued at $13,577,000 after acquiring an additional 89,319 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Packaging Co. of America by 22.2% in the fourth quarter. IFM Investors Pty Ltd now owns 8,942 shares of the industrial products company’s stock valued at $1,233,000 after acquiring an additional 1,622 shares in the last quarter. Truadvice LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $243,000. tru Independence LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $29,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Packaging Co. of America by 263.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 19,273 shares of the industrial products company’s stock valued at $2,658,000 after acquiring an additional 13,973 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

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