Q2 2024 EPS Estimates for Packaging Co. of America (NYSE:PKG) Lowered by Analyst

Packaging Co. of America (NYSE:PKG) – Analysts at Seaport Res Ptn cut their Q2 2024 earnings estimates for Packaging Co. of America in a research report issued to clients and investors on Thursday, April 25th. Seaport Res Ptn analyst M. Weintraub now expects that the industrial products company will earn $2.15 per share for the quarter, down from their previous estimate of $2.20. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.20 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.30 EPS and Q4 2024 earnings at $2.08 EPS.

Several other equities analysts have also recently weighed in on the company. Citigroup dropped their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Truist Financial upped their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a report on Friday, April 12th. Finally, Wells Fargo & Company upgraded 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 note on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $173.57.

Packaging Co. of America Stock Up 0.9 %

Shares of NYSE:PKG opened at $172.85 on Friday. The business’s 50 day moving average is $181.92 and its 200 day moving average is $168.31. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The stock has a market cap of $15.51 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 4.17 and a beta of 0.78. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.89%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Activity

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock valued at $6,799,177 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America in the first quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Packaging Co. of America in the 3rd quarter worth approximately $25,000. Neo Ivy Capital Management bought a new position in Packaging Co. of America in the 4th quarter valued at $28,000. First Horizon Advisors Inc. grew its position in shares of Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Finally, Gables Capital Management Inc. bought a new position in shares of Packaging Co. of America in the fourth quarter worth $31,000. 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.