Packaging Co. of America (NYSE:PKG) Releases Q3 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.450-2.450 for the period, compared to the consensus estimate of 2.430. The company issued revenue guidance of -. Packaging Co. of America also updated its Q3 guidance to $2.45 EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a buy rating in a report on Monday, June 17th. Truist Financial increased their target price on shares of Packaging Co. of America from $208.00 to $215.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $191.00 to $194.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Citigroup increased their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a neutral rating in a report on Monday, July 8th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an outperform rating to a neutral rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $186.33.

Packaging Co. of America Stock Up 0.4 %

Shares of PKG stock traded up $0.85 during trading hours on Wednesday, hitting $193.67. 540,765 shares of the company were exchanged, compared to its average volume of 627,149. The business has a 50 day moving average of $183.84 and a two-hundred day moving average of $178.92. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $199.00. The company has a market capitalization of $17.39 billion, a PE ratio of 24.33, a PEG ratio of 5.13 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its 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 business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 earnings per share. Analysts anticipate that Packaging Co. of America will post 8.5 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

In other news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.