Packaging Co. of America (NYSE:PKG) Posts Earnings Results, Beats Estimates By $0.15 EPS

Packaging Co. of America (NYSE:PKG) issued its earnings results on Tuesday. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15, Yahoo Finance reports. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 EPS. Packaging Co. of America updated its Q4 2024 guidance to 2.470-2.470 EPS.

Packaging Co. of America Price Performance

NYSE:PKG traded down $1.14 during mid-day trading on Thursday, reaching $227.51. 729,434 shares of the company were exchanged, compared to its average volume of 473,058. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The stock has a market cap of $20.43 billion, a PE ratio of 26.52, a PEG ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a 12 month low of $147.25 and a 12 month high of $231.30. The company has a fifty day moving average of $210.82 and a 200 day moving average of $193.70.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.20%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Analysts Set New Price Targets

PKG has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup boosted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Truist Financial reissued a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

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.