Packaging Co. of America (PKG) Set to Announce Quarterly Earnings on Tuesday

Packaging Co. of America (NYSE:PKG) is set to announce its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.47 per share for the quarter. Packaging Co. of America has set its Q3 guidance at $2.45 EPS and its Q3 2024 guidance at 2.450-2.450 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $2.31 earnings per share. On average, analysts expect Packaging Co. of America to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Packaging Co. of America Trading Down 0.1 %

NYSE:PKG opened at $220.12 on Friday. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $222.98. The firm has a 50-day moving average price of $209.17 and a two-hundred day moving average price of $192.99. The firm has a market cap of $19.77 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PKG shares. Citigroup increased their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com lowered 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 objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Truist Financial lifted their target price on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $216.00.

Insider Buying and Selling

In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

About Packaging Co. of America

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.