Seaport Res Ptn Brokers Cut Earnings Estimates for Packaging Co. of America (NYSE:PKG)

Packaging Co. of America (NYSE:PKG) – Research analysts at Seaport Res Ptn reduced their Q2 2024 earnings estimates for Packaging Co. of America in a report issued on Thursday, April 25th. Seaport Res Ptn analyst M. Weintraub now expects that the industrial products company will post earnings of $2.15 per share for the quarter, down from their previous forecast of $2.20. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.24 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.30 EPS and Q4 2024 earnings at $2.08 EPS.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 earnings per share.

Several other research firms also recently weighed in on PKG. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Truist Financial lifted their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $187.00 to $191.00 in a report on Wednesday. Finally, Citigroup decreased their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Stock Up 0.9 %

Shares of PKG opened at $172.85 on Friday. The firm has a market capitalization of $15.51 billion, a P/E ratio of 21.61, a P/E/G ratio of 4.22 and a beta of 0.78. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $181.92 and a 200-day moving average price of $168.21.

Institutional Investors Weigh In On Packaging Co. of America

Large investors have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Packaging Co. of America in the third quarter valued at approximately $25,000. Register Financial Advisors LLC purchased a new stake in Packaging Co. of America in the first quarter valued at approximately $25,000. Neo Ivy Capital Management purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. boosted its position in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after buying an additional 69 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new stake in Packaging Co. of America in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now 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 ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.89%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

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.