Packaging Co. of America (NYSE:PKG) Issues Q3 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.450-2.450 for the period, compared to the consensus estimate of 2.430. The company issued revenue guidance of -. Packaging Co. of America also updated its Q3 guidance to $2.45 EPS.

Analyst Ratings Changes

Several brokerages have recently commented on PKG. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a buy rating in a research report on Monday, June 17th. Truist Financial lifted their price target on shares of Packaging Co. of America from $208.00 to $215.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $191.00 to $194.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Citigroup lifted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a research report on Monday, July 8th. Finally, BNP Paribas cut 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 report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $186.33.

Packaging Co. of America Trading Down 0.3 %

Packaging Co. of America stock traded down $0.64 during midday trading on Tuesday, hitting $192.80. 872,595 shares of the stock were exchanged, compared to its average volume of 627,766. The company has a fifty day simple moving average of $183.62 and a two-hundred day simple moving average of $178.75. Packaging Co. of America has a 52 week low of $136.54 and a 52 week high of $194.42. The stock has a market capitalization of $17.31 billion, a PE ratio of 24.24, a P/E/G ratio of 5.11 and a beta of 0.77. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.10. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm earned $2.31 EPS. Packaging Co. of America’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Packaging Co. of America will post 8.43 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% 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.