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

Graphic Packaging (NYSE:GPK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.490-2.610 for the period, compared to the consensus estimate of 2.630. The company issued revenue guidance of -.

Graphic Packaging Stock Performance

Shares of GPK opened at $29.04 on Thursday. Graphic Packaging has a 1 year low of $21.25 and a 1 year high of $30.70. The stock has a market capitalization of $8.72 billion, a PE ratio of 12.41, a PEG ratio of 10.81 and a beta of 0.83. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. The stock has a 50-day simple moving average of $29.29 and a 200-day simple moving average of $28.22.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, analysts predict that Graphic Packaging will post 2.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

GPK has been the topic of a number of analyst reports. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada decreased their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Truist Financial lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating and dropped their price target for the company from $32.00 to $30.00 in a research note on Wednesday, October 30th. Robert W. Baird boosted 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, Wells Fargo & Company increased their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Graphic Packaging presently has a consensus rating of “Hold” and a consensus price target of $31.53.

Insider Activity

In related news, CEO Michael P. Doss sold 49,183 shares of the 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 completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.