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

Graphic Packaging (NYSE:GPK) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.650-2.850 for the period, compared to the consensus EPS estimate of 2.690. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company reiterated an underweight rating and issued a $21.00 price target on shares of Graphic Packaging in a research note on Monday, April 1st. Citigroup boosted their price target on Graphic Packaging from $32.00 to $34.00 and gave the stock a buy rating in a research note on Thursday, April 4th. StockNews.com downgraded shares of Graphic Packaging from a buy rating to a hold rating in a research report on Thursday, February 22nd. Finally, Robert W. Baird increased their price objective on shares of Graphic Packaging from $28.00 to $30.00 and gave the company an outperform rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $28.44.

Graphic Packaging Stock Performance

Shares of NYSE GPK traded down $1.55 during trading hours on Tuesday, hitting $26.28. 1,385,722 shares of the stock were exchanged, compared to its average volume of 2,769,965. Graphic Packaging has a one year low of $20.07 and a one year high of $29.50. The company’s 50 day moving average is $27.49 and its 200 day moving average is $25.01. The firm has a market capitalization of $8.08 billion, a P/E ratio of 11.84 and a beta of 0.84. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.10 and a quick ratio of 0.42.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Graphic Packaging had a return on equity of 35.66% and a net margin of 7.67%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, research analysts expect that Graphic Packaging will post 2.7 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.52%. Graphic Packaging’s dividend payout ratio is currently 17.02%.

Insider Buying and Selling at Graphic Packaging

In other news, EVP Joseph P. Yost sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the completion of the transaction, the executive vice president now directly owns 205,231 shares in the company, valued at $5,377,052.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

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.