Packaging Co. of America (PKG) Set to Announce Earnings on Monday

Packaging Co. of America (NYSE:PKG) is scheduled to release its earnings data after the market closes on Monday, April 22nd. Analysts expect Packaging Co. of America to post earnings of $1.63 per share for the quarter. Packaging Co. of America has set its Q1 2024 guidance at 1.540-1.540 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the business posted $2.35 EPS. The company’s revenue was down 2.0% on a year-over-year basis. On average, analysts expect Packaging Co. of America to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Packaging Co. of America Trading Up 0.9 %

Shares of PKG stock opened at $179.89 on Friday. The business’s 50 day moving average is $181.22 and its two-hundred day moving average is $167.48. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a market capitalization of $16.15 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 4.30 and a beta of 0.78. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Citigroup lifted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial boosted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $171.29.

Insiders Place Their Bets

In other news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new position in Packaging Co. of America in the first quarter valued at $104,000. Industrial Alliance Investment Management Inc. increased its stake in Packaging Co. of America by 438.9% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 776 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 632 shares during the last quarter. Ancora Advisors LLC increased its stake in Packaging Co. of America by 28.2% in the first quarter. Ancora Advisors LLC now owns 704 shares of the industrial products company’s stock valued at $98,000 after purchasing an additional 155 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in Packaging Co. of America during the second quarter worth about $93,000. Finally, West Tower Group LLC purchased a new position in shares of Packaging Co. of America in the 4th quarter worth about $79,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

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.