Graphic Packaging Holding (NYSE:GPK) Declares Quarterly Dividend of $0.10

Graphic Packaging Holding (NYSE:GPK) announced a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Investors of record on Sunday, September 15th will be paid a dividend of 0.10 per share by the industrial products company on Saturday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, September 13th.

Graphic Packaging has raised its dividend by an average of 10.1% annually over the last three years. Graphic Packaging has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Graphic Packaging to earn $2.89 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 13.8%.

Graphic Packaging Stock Performance

Shares of GPK traded down $0.63 during mid-day trading on Friday, reaching $28.92. 2,257,345 shares of the company’s stock were exchanged, compared to its average volume of 2,715,641. Graphic Packaging has a 52-week low of $20.07 and a 52-week high of $30.66. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.52. The stock has a market capitalization of $8.68 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 5.18 and a beta of 0.84. The business’s fifty day simple moving average is $27.36 and its 200-day simple moving average is $27.04.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, equities research analysts expect that Graphic Packaging will post 2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GPK. Stifel Nicolaus initiated coverage on shares of Graphic Packaging in a research report on Tuesday, July 9th. They set a “buy” rating and a $35.20 price objective for the company. Citigroup reduced their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Truist Financial reissued a “buy” rating and set a $35.00 target price (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday. StockNews.com upgraded Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on Graphic Packaging from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.15.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.