Packaging Co. of America Expected to Post FY2024 Earnings of $8.68 Per Share (NYSE:PKG)

Packaging Co. of America (NYSE:PKG) – Investment analysts at Zacks Research boosted their FY2024 EPS estimates for Packaging Co. of America in a research note issued to investors on Monday, September 30th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $8.68 per share for the year, up from their prior estimate of $8.65. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.72 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.62 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $2.70 EPS, Q1 2026 earnings at $2.65 EPS, Q2 2026 earnings at $2.91 EPS and FY2026 earnings at $11.21 EPS.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year.

Several other research firms also recently weighed in on PKG. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Citigroup upped their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Truist Financial upped their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus target price of $196.17.

Packaging Co. of America Stock Down 1.2 %

PKG opened at $212.80 on Thursday. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $204.15 and a 200 day moving average price of $190.40. The company has a market cap of $19.11 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $1.25 per share. The ex-dividend date is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Activity at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Packaging Co. of America

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Packaging Co. of America by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after buying an additional 41,903 shares during the period. FIL Ltd boosted its position in shares of Packaging Co. of America by 2.6% during the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock worth $360,031,000 after purchasing an additional 55,000 shares during the period. Boston Partners boosted its position in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares during the period. Northern Trust Corp boosted its position in shares of Packaging Co. of America by 2.4% during the 4th quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after purchasing an additional 27,974 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Packaging Co. of America by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after purchasing an additional 86,005 shares during the period. Hedge funds and other 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.