Packaging Co. of America (NYSE:PKG) Expected to Announce Quarterly Sales of $1.79 Billion

Wall Street analysts expect that Packaging Co. of America (NYSE:PKG) will report $1.79 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Packaging Co. of America’s earnings, with the lowest sales estimate coming in at $1.72 billion and the highest estimate coming in at $1.89 billion. Packaging Co. of America reported sales of $1.54 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, July 26th.

On average, analysts expect that Packaging Co. of America will report full year sales of $7.32 billion for the current fiscal year, with estimates ranging from $7.18 billion to $7.49 billion. For the next financial year, analysts forecast that the company will post sales of $7.57 billion, with estimates ranging from $7.38 billion to $7.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Packaging Co. of America.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Sunday, April 25th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Packaging Co. of America had a net margin of 7.19% and a return on equity of 17.85%. Packaging Co. of America’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business earned $1.50 EPS.

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Packaging Co. of America from $131.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. BMO Capital Markets lifted their target price on shares of Packaging Co. of America from $140.00 to $150.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 28th. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $145.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, June 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Packaging Co. of America from $128.00 to $135.00 and gave the stock a “hold” rating in a research report on Monday, April 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $138.20.

PKG stock traded down $1.80 during trading on Tuesday, reaching $134.92. The company had a trading volume of 490,789 shares, compared to its average volume of 505,420. The business has a 50-day simple moving average of $142.77. The firm has a market cap of $12.82 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 3.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.55 and a current ratio of 3.55. Packaging Co. of America has a twelve month low of $92.01 and a twelve month high of $156.54.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Tuesday, June 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Monday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 69.20%.

In other news, SVP Charles J. Carter sold 9,161 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $154.57, for a total transaction of $1,416,015.77. Following the completion of the transaction, the senior vice president now directly owns 39,572 shares of the company’s stock, valued at approximately $6,116,644.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PKG. Price T Rowe Associates Inc. MD increased its holdings in Packaging Co. of America by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,425,388 shares of the industrial products company’s stock worth $1,575,675,000 after acquiring an additional 1,101,854 shares in the last quarter. Norges Bank purchased a new stake in Packaging Co. of America in the 4th quarter worth $147,713,000. Victory Capital Management Inc. increased its holdings in Packaging Co. of America by 23.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,475,079 shares of the industrial products company’s stock worth $332,849,000 after acquiring an additional 471,756 shares in the last quarter. Millennium Management LLC increased its holdings in Packaging Co. of America by 340.6% in the 1st quarter. Millennium Management LLC now owns 342,630 shares of the industrial products company’s stock worth $46,077,000 after acquiring an additional 264,871 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Packaging Co. of America by 3.2% in the 1st quarter. BlackRock Inc. now owns 8,193,328 shares of the industrial products company’s stock worth $1,101,839,000 after acquiring an additional 257,459 shares in the last quarter. 88.44% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Packaging Co. of America (NYSE:PKG)

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