Research Analysts Set Expectations for Packaging Co. of America’s Q2 2024 Earnings (NYSE:PKG)

Packaging Co. of America (NYSE:PKG) – Equities research analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for Packaging Co. of America in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst M. Weintraub now forecasts that the industrial products company will post earnings per share of $2.15 for the quarter, down from their previous forecast of $2.20. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.24 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.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Monday, April 22nd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis.

PKG has been the subject of several other research reports. Citigroup cut their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Finally, Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $187.00 to $191.00 in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Packaging Co. of America presently has an average rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Price Performance

PKG stock opened at $171.25 on Friday. The business has a fifty day moving average of $181.73 and a two-hundred day moving average of $168.06. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 4.22 and a beta of 0.78. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27.

Institutional Trading of Packaging Co. of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Checchi Capital Advisers LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth about $211,000. Lindbrook Capital LLC increased its position in shares of Packaging Co. of America by 19.5% during the first quarter. Lindbrook Capital LLC now owns 3,023 shares of the industrial products company’s stock worth $574,000 after purchasing an additional 493 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Packaging Co. of America by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock worth $165,962,000 after purchasing an additional 5,842 shares in the last quarter. Fielder Capital Group LLC acquired a new position in Packaging Co. of America in the 1st quarter valued at about $225,000. Finally, Simplicity Wealth LLC acquired a new position in Packaging Co. of America in the 1st quarter valued at about $213,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 in the last ninety days. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.92%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.