$1.79 Billion in Sales Expected for Packaging Co. of America (NYSE:PKG) This Quarter

Equities research analysts expect Packaging Co. of America (NYSE:PKG) to report $1.79 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Packaging Co. of America’s earnings, with the highest sales estimate coming in at $1.86 billion and the lowest estimate coming in at $1.72 billion. Packaging Co. of America reported sales of $1.54 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The business is scheduled to issue its next quarterly earnings results 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 year, with estimates ranging from $7.18 billion to $7.38 billion. For the next year, analysts forecast that the firm will report sales of $7.50 billion, with estimates ranging from $7.38 billion to $7.66 billion. Zacks’ 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 posted its quarterly earnings results on Sunday, April 25th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29. Packaging Co. of America had a return on equity of 17.85% and a net margin of 7.19%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. Packaging Co. of America’s revenue was up 5.8% on a year-over-year basis.

A number of equities analysts have recently commented on PKG shares. Deutsche Bank Aktiengesellschaft boosted their price target on Packaging Co. of America from $128.00 to $135.00 and gave the stock a “hold” rating in a report on Monday, April 19th. Wells Fargo & Company upped their target price on Packaging Co. of America from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 28th. Morgan Stanley upped their target price on Packaging Co. of America from $131.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, April 29th. Finally, BMO Capital Markets upped their target price on Packaging Co. of America from $140.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $137.20.

In other news, SVP Charles J. Carter sold 9,161 shares of the stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $154.57, for a total value of $1,416,015.77. Following the completion of the sale, the senior vice president now owns 39,572 shares of the company’s stock, valued at $6,116,644.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in PKG. Valley Brook Capital Group bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $27,000. tru Independence LLC bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $29,000. Vantage Consulting Group Inc bought a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $30,000. Creative Financial Designs Inc. ADV boosted its position in shares of Packaging Co. of America by 878.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 225 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 202 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of Packaging Co. of America by 48.7% during the 1st quarter. Whittier Trust Co. now owns 223 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 88.62% of the company’s stock.

Shares of Packaging Co. of America stock traded down $0.37 during trading on Friday, reaching $142.62. 484,390 shares of the company’s stock were exchanged, compared to its average volume of 607,028. The company has a current ratio of 3.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.75. Packaging Co. of America has a 1-year low of $92.01 and a 1-year high of $156.54. The stock has a market cap of $13.55 billion, a P/E ratio of 27.96, a P/E/G ratio of 4.17 and a beta of 0.90. The company has a 50-day simple moving average of $145.94.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Tuesday, June 15th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. Packaging Co. of America’s payout ratio is 69.20%.

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 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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