Packaging Co. of America (NYSE:PKG) Updates Q2 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.070-2.070 for the period, compared to the consensus earnings per share estimate of 2.220. The company issued revenue guidance of -. Packaging Co. of America also updated its Q2 guidance to $2.07 EPS.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BNP Paribas downgraded shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 price target for the company. in a research note on Friday, April 12th. StockNews.com downgraded shares of Packaging Co. of America from a buy rating to a hold rating in a research note on Friday, April 19th. Truist Financial upped their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a research note on Thursday, January 4th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a buy rating to a neutral rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company raised shares of Packaging Co. of America from an equal weight rating to an overweight rating and upped their price objective for the company from $187.00 to $191.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $173.86.

Packaging Co. of America Stock Up 0.7 %

PKG traded up $1.20 during midday trading on Wednesday, reaching $172.08. The company’s stock had a trading volume of 162,797 shares, compared to its average volume of 691,816. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 4.35 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27. The stock’s 50-day moving average is $181.56 and its 200-day moving average is $168.02.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts expect that Packaging Co. of America will post 8.24 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.91%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 over the last quarter. Company insiders own 1.70% 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 three segments: Packaging, Paper, and Corporate and Other. 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.