Packaging Co. of America (PKG) to Release Quarterly Earnings on Tuesday

Packaging Co. of America (NYSE:PKG) is scheduled to release its earnings data after the market closes on Tuesday, October 22nd. Analysts expect Packaging Co. of America to post earnings of $2.47 per share for the quarter. Packaging Co. of America has set its Q3 guidance at $2.45 EPS and its Q3 2024 guidance at 2.450-2.450 EPS.Investors interested in participating in the company’s conference call can do so using this link.

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 (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm posted $2.31 EPS. Packaging Co. of America’s revenue was up 6.3% compared to the same quarter last year. On average, analysts expect Packaging Co. of America to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Packaging Co. of America Stock Performance

PKG opened at $220.12 on Monday. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $222.98. The company has a market cap of $19.77 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.32 and a beta of 0.77. The company’s fifty day moving average price is $209.17 and its two-hundred day moving average price is $192.99. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Insider Buying and Selling

In other news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Charles J. Carter sold 5,389 shares of the firm’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 completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the company’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 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 disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Packaging Co. of America

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.