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

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus initiated coverage on Graphic Packaging in a report on Tuesday, July 9th. They set a buy rating and a $35.20 price objective for the company. Royal Bank of Canada reiterated an outperform rating and issued a $35.00 price objective on shares of Graphic Packaging in a research report on Wednesday, September 4th. Truist Financial reissued a buy rating and issued a $35.00 price objective (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday, July 31st. Citigroup cut their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a buy rating for the company in a research report on Monday, July 8th. Finally, StockNews.com upgraded shares of Graphic Packaging from a hold rating to a buy rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Graphic Packaging has a consensus rating of Moderate Buy and a consensus target price of $31.15.

Graphic Packaging Stock Performance

Shares of NYSE GPK opened at $30.11 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The company has a market cap of $9.25 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 5.12 and a beta of 0.83. The company has a 50-day simple moving average of $28.81 and a 200-day simple moving average of $27.95. Graphic Packaging has a 12 month low of $20.07 and a 12 month high of $30.66.

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, beating the consensus estimate of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $0.66 EPS. Graphic Packaging’s revenue was down 6.5% on a year-over-year basis. On average, equities analysts anticipate that Graphic Packaging will post 2.66 earnings per share for the current year.

Graphic Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, September 13th. Graphic Packaging’s payout ratio is 18.10%.

Insider Activity

In related news, CEO Michael P. Doss sold 49,183 shares of the firm’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 sale, the chief executive officer now directly owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael P. Doss sold 86,374 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Doss sold 49,183 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,909,576 shares in the company, valued at $53,296,266.16. The disclosure for this sale can be found here. Corporate 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.