Graphic Packaging (NYSE:GPK) Updates FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -2.750 for the period, compared to the consensus earnings per share estimate of 2.700. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GPK. Citigroup reduced their price objective on shares of Graphic Packaging from $31.00 to $30.00 and set a buy rating on the stock in a report on Monday, July 8th. Stifel Nicolaus began coverage on Graphic Packaging in a research report on Tuesday, July 9th. They set a buy rating and a $35.20 price objective for the company. Royal Bank of Canada restated an outperform rating and set a $35.00 target price on shares of Graphic Packaging in a research note on Wednesday, September 4th. Truist Financial reiterated a buy rating and issued a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. Finally, Robert W. Baird boosted their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $31.15.

Graphic Packaging Price Performance

GPK stock opened at $29.86 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $9.18 billion, a P/E ratio of 13.51, a PEG ratio of 5.12 and a beta of 0.83. The business has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $27.90. Graphic Packaging has a twelve month low of $20.07 and a twelve month high of $30.66.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. Graphic Packaging’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, equities analysts anticipate that Graphic Packaging will post 2.66 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s dividend payout ratio is presently 18.10%.

Insiders Place Their Bets

In other news, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the transaction, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.