$1.73 Earnings Per Share Expected for Packaging Co. of America (NYSE:PKG) This Quarter

Wall Street analysts expect Packaging Co. of America (NYSE:PKG) to report earnings per share of $1.73 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Packaging Co. of America’s earnings. The highest EPS estimate is $1.75 and the lowest is $1.70. Packaging Co. of America posted earnings of $1.38 per share in the same quarter last year, which would suggest a positive year over year growth rate of 25.4%. The business is scheduled to announce its next earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Packaging Co. of America will report full year earnings of $7.42 per share for the current fiscal year, with EPS estimates ranging from $7.30 to $7.56. For the next fiscal year, analysts anticipate that the company will post earnings of $8.30 per share, with EPS estimates ranging from $7.44 to $8.89. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Packaging Co. of America.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Sunday, April 25th. The industrial products company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.29. Packaging Co. of America had a net margin of 7.19% and a return on equity of 17.85%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year.

Several analysts have weighed in on PKG shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Packaging Co. of America from $128.00 to $135.00 and gave the company a “hold” rating in a research note on Monday, April 19th. BMO Capital Markets boosted their target price on shares of Packaging Co. of America from $140.00 to $150.00 and gave the company a “market perform” rating in a research note on Wednesday, April 28th. Morgan Stanley boosted their price target on shares of Packaging Co. of America from $131.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Finally, Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, April 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Packaging Co. of America has an average rating of “Hold” and a consensus target price of $137.20.

In related news, SVP Charles J. Carter sold 9,161 shares of the company’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $154.57, for a total value of $1,416,015.77. Following the completion of the sale, the senior vice president now owns 39,572 shares of the company’s stock, valued at $6,116,644.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PKG. Whittier Trust Co. lifted its holdings in Packaging Co. of America by 48.7% in the 1st quarter. Whittier Trust Co. now owns 223 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. IFP Advisors Inc lifted its holdings in Packaging Co. of America by 7.9% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 84 shares during the last quarter. Arrow Financial Corp lifted its holdings in Packaging Co. of America by 13.6% in the 4th quarter. Arrow Financial Corp now owns 710 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 85 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Packaging Co. of America by 5.4% in the 1st quarter. Brown Advisory Inc. now owns 1,653 shares of the industrial products company’s stock valued at $223,000 after acquiring an additional 85 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in Packaging Co. of America by 6.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,586 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 93 shares during the last quarter. 88.62% of the stock is owned by institutional investors and hedge funds.

PKG stock traded down $0.37 during trading on Thursday, hitting $142.62. 484,390 shares of the company’s stock traded hands, compared to its average volume of 607,028. The company has a quick ratio of 2.55, a current ratio of 3.55 and a debt-to-equity ratio of 0.75. Packaging Co. of America has a 52 week low of $92.01 and a 52 week high of $156.54. The firm’s fifty day moving average price is $145.94. The stock has a market cap of $13.55 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 4.17 and a beta of 0.90.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Tuesday, June 15th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, June 14th. Packaging Co. of America’s payout ratio is currently 69.20%.

About Packaging Co. of America

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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