Graphic Packaging (NYSE:GPK) Updates FY24 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.49-2.61 for the period, compared to the consensus estimate of $2.63.

Wall Street Analyst Weigh In

GPK has been the topic of several recent research reports. Citigroup lowered their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Royal Bank of Canada dropped their price target on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Truist Financial lowered their target price on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Robert W. Baird upped their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus initiated coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Graphic Packaging currently has an average rating of “Moderate Buy” and an average price target of $31.87.

Graphic Packaging Price Performance

NYSE:GPK traded down $1.54 during trading hours on Tuesday, hitting $28.81. The stock had a trading volume of 3,032,177 shares, compared to its average volume of 2,520,307. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 10.94 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The company has a 50 day simple moving average of $29.41 and a two-hundred day simple moving average of $28.18. Graphic Packaging has a one year low of $20.82 and a one year high of $30.70.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. Graphic Packaging’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. Research analysts forecast that Graphic Packaging will post 2.65 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, September 13th. Graphic Packaging’s dividend payout ratio is 18.10%.

Insiders Place Their Bets

In related news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at approximately $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael P. Doss sold 86,374 shares of the stock in a transaction on Wednesday, August 7th. The shares were 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. This represents 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. Also, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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.