Packaging Corp Of America (NYSE:PKG) declared a quarterly dividend on Tuesday, February 27th, RTT News reports. Investors of record on Thursday, March 15th will be given a dividend of 0.63 per share by the industrial products company on Friday, April 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 14th.
Packaging Corp Of America has raised its dividend by an average of 16.3% per year over the last three years and has increased its dividend every year for the last 7 years. Packaging Corp Of America has a payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Packaging Corp Of America to earn $8.36 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 30.1%.
Packaging Corp Of America (PKG) traded down $1.08 during trading hours on Wednesday, reaching $118.52. 505,511 shares of the company were exchanged, compared to its average volume of 812,112. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15. Packaging Corp Of America has a 1-year low of $88.47 and a 1-year high of $131.13. The firm has a market cap of $11,210.00, a price-to-earnings ratio of 20.48, a PEG ratio of 1.90 and a beta of 1.82.
Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.61 billion. Packaging Corp Of America had a net margin of 10.37% and a return on equity of 28.85%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. equities analysts anticipate that Packaging Corp Of America will post 7.57 EPS for the current fiscal year.
Several research firms have weighed in on PKG. Barclays raised their price objective on shares of Packaging Corp Of America from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. DA Davidson upgraded shares of Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research note on Friday, February 2nd. Bank of America lifted their price objective on shares of Packaging Corp Of America from $134.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Co lifted their price objective on shares of Packaging Corp Of America from $130.00 to $150.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $128.00.
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Packaging Corp Of America Company Profile
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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