Packaging Co. of America (NYSE:PKG) Releases Q4 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.470-2.470 for the period, compared to the consensus EPS estimate of 2.400. The company issued revenue guidance of -.

Packaging Co. of America Stock Down 1.1 %

Shares of Packaging Co. of America stock traded down $2.44 during trading hours on Tuesday, reaching $216.66. 702,239 shares of the company’s stock were exchanged, compared to its average volume of 596,378. The stock has a market cap of $19.46 billion, a P/E ratio of 27.30, a P/E/G ratio of 4.33 and a beta of 0.77. The company has a 50 day moving average of $209.69 and a two-hundred day moving average of $193.25. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a fifty-two week low of $143.82 and a fifty-two week high of $222.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.31 earnings per share. On average, sell-side analysts forecast that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.31%. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Analysts Set New Price Targets

Several research firms have issued reports on PKG. Citigroup upped their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial raised their target price on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $216.00.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.