Graphic Packaging (NYSE:GPK) Announces Quarterly Earnings Results

Graphic Packaging (NYSE:GPK) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04), Briefing.com reports. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Graphic Packaging updated its FY24 guidance to $2.49-2.61 EPS.

Graphic Packaging Stock Performance

NYSE:GPK opened at $28.26 on Friday. Graphic Packaging has a twelve month low of $21.08 and a twelve month high of $30.70. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 10.99 and a beta of 0.83. The company has a current ratio of 1.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.78. The firm’s fifty day simple moving average is $29.41 and its 200 day simple moving average is $28.18.

Insider Activity at Graphic Packaging

In other news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the sale, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

GPK has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada decreased their price target on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus initiated coverage on Graphic Packaging in a research report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price on the stock. Finally, Truist Financial downgraded Graphic Packaging from a “buy” rating to a “hold” rating and lowered their price target for the company from $32.00 to $30.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.53.

About Graphic Packaging

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.