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 cut their Q2 2024 earnings per share (EPS) estimates for Packaging Co. of America in a research note 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 released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share.

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

Packaging Co. of America Trading Up 0.9 %

Shares of PKG stock opened at $172.85 on Friday. The business’s 50 day moving average is $181.92 and its two-hundred day moving average is $168.21. 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 $15.51 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 4.22 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.

Institutional Trading of Packaging Co. of America

A number of institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Packaging Co. of America by 19,323.7% in the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 30,145 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Packaging Co. of America in the fourth quarter worth $16,338,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Packaging Co. of America by 60.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 1,890 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Packaging Co. of America by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock worth $2,188,000 after acquiring an additional 6,368 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Packaging Co. of America by 75.0% in the third quarter. Acadian Asset Management LLC now owns 15,884 shares of the industrial products company’s stock worth $2,436,000 after acquiring an additional 6,809 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, 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 transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, 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 transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Dividend Announcement

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 was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. Packaging Co. of America’s dividend payout ratio (DPR) 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.