Packaging Co. of America (PKG) Set to Announce Quarterly Earnings on Tuesday

Packaging Co. of America (NYSE:PKG) is set to post its quarterly earnings results after the market closes on Tuesday, October 22nd. Analysts expect Packaging Co. of America to post earnings of $2.47 per share for the quarter. Packaging Co. of America has set its Q3 guidance at $2.45 EPS and its Q3 2024 guidance at 2.450-2.450 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. Packaging Co. of America’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.31 earnings per share. On average, analysts expect Packaging Co. of America to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Packaging Co. of America Trading Down 0.1 %

PKG opened at $220.12 on Monday. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 4.32 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $222.98. The company has a 50-day simple moving average of $209.17 and a 200 day simple moving average of $192.99.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.74%.

Insider Buying and Selling at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PKG shares. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Citigroup increased their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial raised their price target on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and a consensus target price of $216.00.

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.