Packaging Co. of America (NYSE:PKG) Updates Q2 Earnings Guidance

Packaging Co. of America (NYSE:PKG) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $2.07 for the period, compared to the consensus earnings per share estimate of $2.22. Packaging Co. of America also updated its Q2 2024 guidance to 2.070-2.070 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com downgraded Packaging Co. of America from a buy rating to a hold rating in a report on Friday. Seaport Res Ptn downgraded Packaging Co. of America from a buy rating to a neutral rating in a report on Monday, January 29th. Truist Financial boosted their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a report on Thursday, January 4th. Citigroup boosted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a neutral rating in a report on Thursday, April 4th. Finally, Bank of America upgraded Packaging Co. of America from a neutral rating to a buy rating and boosted their price target for the company from $172.00 to $202.00 in a report on Monday, March 4th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Packaging Co. of America presently has an average rating of Hold and an average price target of $171.29.

Packaging Co. of America Price Performance

Shares of PKG opened at $179.29 on Tuesday. The company has a market cap of $16.09 billion, a P/E ratio of 21.14, a PEG ratio of 4.33 and a beta of 0.78. The stock has a fifty day moving average price of $181.44 and a 200 day moving average price of $167.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. On average, research analysts forecast that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.79%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is owned by company insiders.

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.