Graphic Packaging (NYSE:GPK) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Graphic Packaging (NYSE:GPK) announced its earnings results on Tuesday. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04, Briefing.com reports. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Graphic Packaging’s revenue was down 6.5% compared to the same quarter last year. Graphic Packaging updated its FY24 guidance to $2.65-2.85 EPS and its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Stock Performance

NYSE GPK traded up $0.72 during trading on Wednesday, hitting $29.81. The company’s stock had a trading volume of 878,889 shares, compared to its average volume of 2,694,001. The company has a quick ratio of 0.52, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. The firm has a 50 day moving average price of $27.27 and a 200 day moving average price of $27.00. The firm has a market cap of $9.16 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 10.20 and a beta of 0.85. Graphic Packaging has a 52 week low of $20.07 and a 52 week high of $29.92.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, June 14th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GPK shares. Stifel Nicolaus started coverage on Graphic Packaging in a report on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. Citigroup reduced their target price on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 8th. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada upped their target price on Graphic Packaging from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Robert W. Baird upped their target price on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.78.

About Graphic Packaging

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.