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

Graphic Packaging (NYSE:GPK) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.490-2.610 for the period, compared to the consensus EPS estimate of 2.630. The company issued revenue guidance of -.

Graphic Packaging Trading Up 3.1 %

GPK opened at $29.04 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.73 and a quick ratio of 0.72. The company’s 50 day simple moving average is $29.29 and its two-hundred day simple moving average is $28.22. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 10.81 and a beta of 0.83. Graphic Packaging has a 1-year low of $21.25 and a 1-year high of $30.70.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.04). Graphic Packaging had a net margin of 7.99% and a return on equity of 28.26%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. Analysts expect that Graphic Packaging will post 2.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GPK shares. Royal Bank of Canada reduced their target price on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Truist Financial downgraded Graphic Packaging from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $30.00 in a research report on Wednesday, October 30th. Finally, StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.53.

Insider Transactions at Graphic Packaging

In related news, 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 value of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.