Packaging Co. of America (NYSE:PKG) Expected to Post Quarterly Sales of $1.75 Billion


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Equities analysts forecast that Packaging Co. of America (NYSE:PKG) will post sales of $1.75 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Packaging Co. of America’s earnings. The highest sales estimate is $1.78 billion and the lowest is $1.71 billion. Packaging Co. of America reported sales of $1.71 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The firm is expected to issue its next earnings report on Monday, April 26th.

On average, analysts expect that Packaging Co. of America will report full year sales of $7.06 billion for the current year, with estimates ranging from $6.85 billion to $7.32 billion. For the next financial year, analysts expect that the firm will report sales of $7.08 billion, with estimates ranging from $6.89 billion to $7.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Packaging Co. of America.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 26th. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.09). Packaging Co. of America had a net margin of 7.11% and a return on equity of 18.67%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $1.71 EPS. The business’s revenue was down .3% on a year-over-year basis.

A number of research analysts have issued reports on PKG shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Packaging Co. of America from $100.00 to $128.00 and gave the stock a “hold” rating in a research report on Wednesday, January 20th. UBS Group assumed coverage on shares of Packaging Co. of America in a report on Tuesday, January 12th. They issued a “sell” rating and a $146.00 price target for the company. BMO Capital Markets lowered shares of Packaging Co. of America from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $144.00 to $134.00 in a research report on Tuesday, January 12th. Morgan Stanley lifted their price objective on shares of Packaging Co. of America from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Monday, February 1st. Finally, KeyCorp upgraded shares of Packaging Co. of America from an “underweight” rating to a “sector weight” rating in a research note on Monday, December 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Packaging Co. of America currently has an average rating of “Hold” and a consensus target price of $133.50.

PKG traded down $1.38 during trading on Thursday, hitting $132.94. The company had a trading volume of 7,818 shares, compared to its average volume of 706,234. The firm’s 50-day moving average price is $137.76 and its 200 day moving average price is $122.73. The company has a quick ratio of 2.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.78. Packaging Co. of America has a one year low of $71.05 and a one year high of $148.14. The company has a market capitalization of $12.61 billion, a PE ratio of 27.03, a PEG ratio of 4.14 and a beta of 1.07.

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in Packaging Co. of America by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,425,388 shares of the industrial products company’s stock valued at $1,575,675,000 after purchasing an additional 1,101,854 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Packaging Co. of America by 1.4% during the fourth quarter. BlackRock Inc. now owns 7,935,869 shares of the industrial products company’s stock worth $1,094,433,000 after purchasing an additional 108,550 shares during the period. JPMorgan Chase & Co. lifted its holdings in Packaging Co. of America by 2.4% in the fourth quarter. JPMorgan Chase & Co. now owns 3,324,490 shares of the industrial products company’s stock valued at $458,480,000 after acquiring an additional 76,976 shares during the period. Maj Invest Holding A S lifted its holdings in Packaging Co. of America by 52.7% in the fourth quarter. Maj Invest Holding A S now owns 2,846,795 shares of the industrial products company’s stock valued at $392,601,000 after acquiring an additional 982,598 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Packaging Co. of America by 5.7% in the third quarter. Victory Capital Management Inc. now owns 2,010,239 shares of the industrial products company’s stock valued at $219,216,000 after acquiring an additional 108,504 shares during the period. Hedge funds and other institutional investors own 88.40% of the company’s stock.

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 Packaging and Paper segments. 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.

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