Brokers Set Expectations for Packaging Co. of America’s Q2 2024 Earnings (NYSE:PKG)

Packaging Co. of America (NYSE:PKG) – Zacks Research boosted their Q2 2024 EPS estimates for shares of Packaging Co. of America in a research note issued to investors on Monday, May 6th. Zacks Research analyst S. Deb now forecasts that the industrial products company will earn $2.07 per share for the quarter, up from their previous estimate of $1.94. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.21 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.09 EPS, FY2024 earnings at $8.08 EPS, Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.25 EPS, Q3 2025 earnings at $2.26 EPS, Q4 2025 earnings at $2.25 EPS, FY2025 earnings at $8.77 EPS and FY2026 earnings at $9.71 EPS.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. 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 analyst estimates of $1.91 billion. During the same period last year, the company earned $2.20 earnings per share. Packaging Co. of America’s quarterly revenue was up .2% compared to the same quarter last year.

Several other brokerages have also weighed in on PKG. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Citigroup lowered their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $173.57.

Packaging Co. of America Stock Up 1.7 %

Shares of Packaging Co. of America stock opened at $179.15 on Wednesday. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 4.29 and a beta of 0.80. The stock has a 50-day simple moving average of $182.41 and a 200-day simple moving average of $169.64. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77.

Packaging Co. of America Announces Dividend

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 of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.79%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Activity at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction 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 SEC, which can be accessed through this link. In other 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 transaction of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the 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 completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock worth $6,799,177 in the last 90 days. 1.70% of the stock is owned by company insiders.

Institutional Trading of Packaging Co. of America

Institutional investors and hedge funds have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Packaging Co. of America in the third quarter worth $25,000. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the 1st quarter worth about $25,000. Neo Ivy Capital Management acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. increased its stake 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 acquiring an additional 69 shares during the period. Finally, Gables Capital Management Inc. acquired a new position in Packaging Co. of America in the fourth quarter worth about $31,000. 89.78% of the stock is currently owned by institutional investors.

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.