Q2 2024 EPS Estimates for Packaging Co. of America (NYSE:PKG) Boosted by Zacks Research

Packaging Co. of America (NYSE:PKG) – Zacks Research boosted their Q2 2024 earnings estimates for shares of Packaging Co. of America in a report released on Monday, May 6th. Zacks Research analyst S. Deb now expects that the industrial products company will post earnings per share of $2.07 for the quarter, up from their prior estimate of $1.94. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.21 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.09 EPS, FY2024 earnings at $8.08 EPS, Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.25 EPS, Q3 2025 earnings at $2.26 EPS, Q4 2025 earnings at $2.25 EPS, FY2025 earnings at $8.77 EPS and FY2026 earnings at $9.71 EPS.

A number of other equities research analysts also recently weighed in on the company. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Stock Up 1.0 %

Shares of PKG stock opened at $180.38 on Wednesday. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. 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 firm has a market cap of $16.19 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80. The stock has a 50 day moving average of $182.43 and a 200-day moving average of $169.78.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Packaging Co. of America during the 3rd quarter worth approximately $25,000. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth $25,000. Neo Ivy Capital Management bought a new position in Packaging Co. of America during the fourth quarter worth $28,000. First Horizon Advisors Inc. raised its position in shares of Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares in the last quarter. Finally, Gables Capital Management Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were 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 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. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.77%. Packaging Co. of America’s dividend payout ratio is 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.