Graphic Packaging (GPK) Announces Earnings Results, Beats Expectations By $0.03 EPS
Graphic Packaging (NYSE:GPK) posted its quarterly earnings data on Tuesday. The industrial products company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03, MarketWatch Earnings reports. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.54 billion. Graphic Packaging had a return on equity of 11.67% and a net margin of 3.67%. Graphic Packaging’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share.
Shares of Graphic Packaging stock opened at $12.98 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 0.64. Graphic Packaging has a 1-year low of $10.04 and a 1-year high of $16.61. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.31%. Graphic Packaging’s payout ratio is currently 37.04%.
Institutional investors and hedge funds have recently modified their holdings of the company. Resources Investment Advisors Inc. acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at about $28,000. First Personal Financial Services grew its stake in shares of Graphic Packaging by 101.9% in the 4th quarter. First Personal Financial Services now owns 2,954 shares of the industrial products company’s stock valued at $31,000 after buying an additional 1,491 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at about $52,000. Pearl River Capital LLC acquired a new stake in shares of Graphic Packaging in the 4th quarter valued at about $54,000. Finally, First Hawaiian Bank grew its stake in shares of Graphic Packaging by 319.5% in the 1st quarter. First Hawaiian Bank now owns 5,403 shares of the industrial products company’s stock valued at $68,000 after buying an additional 4,115 shares during the period.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Graphic Packaging from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a report on Wednesday, April 10th. ValuEngine downgraded Graphic Packaging from a “hold” rating to a “sell” rating in a report on Monday, February 25th. Finally, UBS Group assumed coverage on Graphic Packaging in a report on Friday, January 4th. They issued a “neutral” rating and a $11.50 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.13.
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About Graphic Packaging
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
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