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

Graphic Packaging (NYSE:GPK) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04, Briefing.com reports. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a net margin of 7.36% and a return on equity of 32.55%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. 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

Shares of GPK traded up $0.72 during mid-day trading on Wednesday, reaching $29.81. 878,889 shares of the company’s stock were exchanged, compared to its average volume of 2,694,001. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.24 and a quick ratio of 0.52. The stock has a market capitalization of $9.16 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 10.20 and a beta of 0.85. The business’s fifty day simple moving average is $27.27 and its 200-day simple moving average is $27.00. 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 announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.34%. Graphic Packaging’s dividend payout ratio (DPR) is presently 18.10%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Truist Financial reissued a “buy” rating and set a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a report on Wednesday. Stifel Nicolaus began coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They set a “buy” rating and a $35.20 price objective on the stock. Citigroup cut their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Robert W. Baird raised their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.