Graphic Packaging (NYSE:GPK) Issues FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -2.750 for the period, compared to the consensus estimate of 2.700. The company issued revenue guidance of -.

Graphic Packaging Stock Down 1.7 %

Shares of NYSE:GPK opened at $29.88 on Wednesday. Graphic Packaging has a 1 year low of $20.07 and a 1 year high of $30.66. The company has a market capitalization of $9.18 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 5.12 and a beta of 0.83. The business has a fifty day moving average price of $28.62 and a two-hundred day moving average price of $27.88. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Analysts forecast that Graphic Packaging will post 2.66 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.34%. Graphic Packaging’s payout ratio is currently 18.10%.

Analyst Ratings Changes

GPK has been the subject of a number of recent research reports. StockNews.com raised Graphic Packaging from a hold rating to a buy rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an outperform rating and issued a $35.00 price target on shares of Graphic Packaging in a report on Wednesday, September 4th. Stifel Nicolaus assumed coverage on Graphic Packaging in a research note on Tuesday, July 9th. They set a buy rating and a $35.20 price objective on the stock. Robert W. Baird raised their target price on Graphic Packaging from $30.00 to $36.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Finally, Citigroup decreased their price target on Graphic Packaging from $31.00 to $30.00 and set a buy rating on the stock in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $31.15.

Insider Buying and Selling at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares in the company, valued at $53,296,266.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Michael P. Doss sold 49,183 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the transaction, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the sale, the chief executive officer now directly owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Graphic Packaging Company Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.