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

Packaging Co. of America (NYSE:PKG) – Equities researchers at Zacks Research lifted their Q2 2024 EPS estimates for Packaging Co. of America in a research report issued on Monday, May 6th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings of $2.07 per share for the quarter, up from their prior forecast 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 released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS.

Several other research firms have also issued reports on PKG. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Stock Down 0.4 %

Shares of Packaging Co. of America stock opened at $178.43 on Wednesday. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The business has a fifty day simple moving average of $182.45 and a 200 day simple moving average of $169.70. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.01 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.80%. Packaging Co. of America’s dividend payout ratio is 62.50%.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were 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 approximately $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. 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 ninety days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in shares of Packaging Co. of America by 16.4% in the third quarter. Raymond James & Associates now owns 159,277 shares of the industrial products company’s stock valued at $24,457,000 after acquiring an additional 22,493 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Packaging Co. of America by 29.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,160 shares of the industrial products company’s stock valued at $4,478,000 after buying an additional 6,675 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Packaging Co. of America by 16.7% in the third quarter. Mackenzie Financial Corp now owns 20,733 shares of the industrial products company’s stock valued at $3,145,000 after buying an additional 2,974 shares in the last quarter. Strs Ohio increased its holdings in Packaging Co. of America by 7.7% during the third quarter. Strs Ohio now owns 38,210 shares of the industrial products company’s stock worth $5,867,000 after buying an additional 2,747 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in Packaging Co. of America by 3.0% during the third quarter. IFM Investors Pty Ltd now owns 19,068 shares of the industrial products company’s stock worth $2,928,000 after acquiring an additional 554 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

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.