Packaging Corporation of America (NYSE:PKG) Issues Earnings Results

Packaging Corporation of America (NYSE:PKG) announced its quarterly earnings data on Wednesday. The industrial products company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.11, Zacks reports. Packaging Corporation of America had a return on equity of 18.94% and a net margin of 7.25%.

Packaging Corporation of America Price Performance

Shares of Packaging Corporation of America stock traded up $0.14 during trading hours on Wednesday, hitting $239.06. The company’s stock had a trading volume of 810,101 shares, compared to its average volume of 802,290. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.86 and a current ratio of 2.94. Packaging Corporation of America has a 12-month low of $191.50 and a 12-month high of $259.98. The business has a 50 day moving average price of $237.69 and a two-hundred day moving average price of $230.24. The company has a market cap of $21.30 billion, a PE ratio of 31.05, a PEG ratio of 2.03 and a beta of 0.75.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, September 15th. Packaging Corporation of America’s dividend payout ratio is presently 77.92%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several research reports. UBS Group dropped their target price on Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Weiss Ratings raised shares of Packaging Corporation of America from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. upped their target price on shares of Packaging Corporation of America from $312.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, September 23rd. Truist Financial boosted their price objective on shares of Packaging Corporation of America from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Bank of America decreased their target price on Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Packaging Corporation of America presently has a consensus rating of “Moderate Buy” and an average price target of $271.86.

Insider Activity at Packaging Corporation of America

In other Packaging Corporation of America news, VP Donald R. Shirley sold 12,000 shares of Packaging Corporation of America stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $250.71, for a total value of $3,008,520.00. Following the sale, the vice president directly owned 19,110 shares in the company, valued at approximately $4,791,068.10. The trade was a 38.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas A. Hassfurther sold 12,531 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $250.00, for a total transaction of $3,132,750.00. Following the transaction, the president directly owned 218,751 shares of the company’s stock, valued at $54,687,750. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,391 shares of company stock valued at $10,196,101 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE:PKG) is a manufacturer of corrugated packaging and containerboard products serving businesses primarily in the United States. Its products include shipping boxes, retail packaging, displays, protective packaging and specialty corrugated solutions used to transport and present a broad range of consumer and industrial goods.

The company also produces uncoated freesheet paper and related paper products for commercial printing, office use, publishing, converting and other applications.