Packaging Co. of America (NYSE:PKG) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Packaging Co. of America (NYSE:PKG) issued its earnings results on Monday. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09, Briefing.com reports. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $2.20 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Packaging Co. of America updated its Q2 guidance to $2.07 EPS and its Q2 2024 guidance to 2.070-2.070 EPS.

Packaging Co. of America Trading Up 1.8 %

Packaging Co. of America stock opened at $173.92 on Thursday. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The business’s fifty day moving average is $181.56 and its 200 day moving average is $168.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The stock has a market capitalization of $15.61 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors 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 annualized dividend and a dividend yield of 2.87%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

PKG has been the subject of a number of recent analyst reports. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $172.00 to $202.00 in a report on Monday, March 4th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $187.00 to $191.00 in a report on Wednesday. Citigroup increased their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Truist Financial increased their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $173.86.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,041 shares of company stock valued at $6,799,177. 1.60% 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.