Packaging Co. of America (NYSE:PKG – Get Rating) – Jefferies Financial Group cut their Q3 2022 earnings per share (EPS) estimates for Packaging Co. of America in a report issued on Friday, September 16th. Jefferies Financial Group analyst P. Ng now expects that the industrial products company will post earnings per share of $2.73 for the quarter, down from their prior estimate of $2.83. Jefferies Financial Group has a “Underperform” rating and a $112.00 price target on the stock. The consensus estimate for Packaging Co. of America’s current full-year earnings is $11.48 per share. Jefferies Financial Group also issued estimates for Packaging Co. of America’s Q4 2022 earnings at $2.46 EPS and FY2022 earnings at $11.14 EPS.
Packaging Co. of America (NYSE:PKG – Get Rating) last announced its quarterly earnings data on Monday, July 25th. The industrial products company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.38. Packaging Co. of America had a return on equity of 28.76% and a net margin of 12.13%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the business posted $2.17 earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year.
Packaging Co. of America Price Performance
PKG stock opened at $118.07 on Monday. The business has a fifty day moving average of $138.78 and a two-hundred day moving average of $148.04. The company has a quick ratio of 2.09, a current ratio of 3.07 and a debt-to-equity ratio of 0.63. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.77. Packaging Co. of America has a 52-week low of $116.60 and a 52-week high of $168.50.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mascoma Wealth Management LLC acquired a new position in Packaging Co. of America during the 1st quarter worth $25,000. Quent Capital LLC purchased a new stake in Packaging Co. of America during the 1st quarter worth about $29,000. Clear Street Markets LLC lifted its holdings in Packaging Co. of America by 397.4% during the 2nd quarter. Clear Street Markets LLC now owns 194 shares of the industrial products company’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Packaging Co. of America during the 1st quarter worth about $31,000. Finally, Bogart Wealth LLC lifted its holdings in Packaging Co. of America by 455.6% during the 2nd quarter. Bogart Wealth LLC now owns 200 shares of the industrial products company’s stock worth $28,000 after buying an additional 164 shares during the last quarter. 89.80% of the stock is owned by institutional investors and hedge funds.
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 Packaging and Paper segments. 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.
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