Packaging Co. of America (NYSE:PKG) Releases Q2 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.070-2.070 for the period, compared to the consensus estimate of 2.220. The company issued revenue guidance of -. Packaging Co. of America also updated its Q2 guidance to $2.07 EPS.

Packaging Co. of America Trading Down 0.3 %

Shares of PKG stock opened at $179.29 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $181.44 and a two-hundred day moving average price of $167.88. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The firm has a market cap of $16.09 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.79%. Packaging Co. of America’s dividend payout ratio is currently 58.96%.

Wall Street Analyst Weigh In

PKG has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a buy rating in a report on Thursday, January 4th. Bank of America upgraded Packaging Co. of America from a neutral rating to a buy rating and boosted their price target for the company from $172.00 to $202.00 in a report on Monday, March 4th. Seaport Res Ptn downgraded Packaging Co. of America from a buy rating to a neutral rating in a report on Monday, January 29th. Citigroup boosted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a neutral rating in a report on Thursday, April 4th. Finally, StockNews.com downgraded Packaging Co. of America from a buy rating to a hold rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $171.29.

Insider Buying and Selling at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,041 shares of company stock valued at $6,799,177. 1.70% of the stock is currently owned by corporate insiders.

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.