Packaging Co. of America (NYSE:PKG) Announces Earnings Results

Packaging Co. of America (NYSE:PKG) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm posted $2.20 EPS. Packaging Co. of America’s revenue for the quarter was up .2% compared to the same quarter last year.

Packaging Co. of America Stock Up 1.8 %

Packaging Co. of America stock opened at $173.92 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The firm has a market cap of $15.61 billion, a P/E ratio of 21.74, a P/E/G ratio of 4.15 and a beta of 0.78. The business has a fifty day moving average of $181.56 and a two-hundred day moving average of $168.02. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.87%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup lifted their target price on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Wells Fargo & Company upgraded 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 report on Wednesday. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Truist Financial lifted their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $173.86.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. In the last three months, insiders sold 38,041 shares of company stock valued at $6,799,177. Corporate insiders own 1.60% of the company’s stock.

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 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.