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

Packaging Co. of America (NYSE:PKG) released its earnings results on Tuesday. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15, Yahoo Finance reports. The firm had revenue of $2.18 billion during 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 business’s revenue was up 14.9% on a year-over-year basis. During the same quarter last 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 Stock Up 0.0 %

NYSE PKG traded up $0.05 during trading on Friday, reaching $227.56. 11,841 shares of the company’s stock traded hands, compared to its average volume of 596,707. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company’s 50 day simple moving average is $211.45 and its two-hundred day simple moving average is $193.93. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $231.30.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

Several research firms recently commented on PKG. Truist Financial reaffirmed a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Citigroup raised 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 note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $221.60.

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.