Graphic Packaging (NYSE:GPK) Issues FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -2.750 for the period, compared to the consensus estimate of 2.700. The company issued revenue guidance of -.

Graphic Packaging Trading Down 1.7 %

NYSE:GPK opened at $29.88 on Wednesday. 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 quick ratio of 0.58 and a current ratio of 1.45. The firm’s fifty day moving average is $28.62 and its 200-day moving average is $27.88. The firm has a market cap of $9.18 billion, a P/E ratio of 13.52, a P/E/G ratio of 5.12 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities analysts expect that Graphic Packaging will post 2.66 earnings per share for the current year.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. Graphic Packaging’s payout ratio is currently 18.10%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GPK shares. Truist Financial reaffirmed a buy rating and set a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Stifel Nicolaus started coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They issued a buy rating and a $35.20 price target for the company. Robert W. Baird upped their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Citigroup reduced their target price on Graphic Packaging from $31.00 to $30.00 and set a buy rating for the company in a research note on Monday, July 8th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $35.00 target price on shares of Graphic Packaging in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Graphic Packaging has an average rating of Moderate Buy and a consensus target price of $31.15.

Insider Buying and Selling

In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the sale, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Graphic Packaging Company Profile

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.