Packaging Co. of America (NYSE:PKG) Updates Q4 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.470-2.470 for the period, compared to the consensus estimate of 2.400. The company issued revenue guidance of -.

Packaging Co. of America Stock Up 6.3 %

Shares of NYSE PKG traded up $13.69 during mid-day trading on Wednesday, reaching $230.35. 267,646 shares of the company were exchanged, compared to its average volume of 594,776. Packaging Co. of America has a 1 year low of $145.02 and a 1 year high of $230.46. The firm has a 50-day moving average of $210.13 and a 200 day moving average of $193.45. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 4.33 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, research analysts expect that Packaging Co. of America will post 8.73 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.17%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.74%.

Wall Street Analysts Forecast Growth

PKG has been the topic of a number of recent analyst reports. 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 research report on Wednesday, October 2nd. Truist Financial upped their target price on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company boosted their price target on Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.00.

Insiders Place Their Bets

In related news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was 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 of the company’s stock, valued at $4,077,128.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.