Graphic Packaging (NYSE:GPK) Releases Earnings Results

Graphic Packaging (NYSE:GPK) posted its earnings results on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04, Briefing.com reports. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. Graphic Packaging updated its FY24 guidance to $2.65-2.85 EPS and its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Trading Down 1.8 %

NYSE GPK traded down $0.54 on Thursday, reaching $29.56. 2,777,214 shares of the company were exchanged, compared to its average volume of 2,718,982. The company has a current ratio of 1.45, a quick ratio of 0.52 and a debt-to-equity ratio of 1.75. The business’s fifty day moving average price is $27.32 and its 200 day moving average price is $27.03. The stock has a market capitalization of $9.08 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 10.59 and a beta of 0.85. Graphic Packaging has a fifty-two week low of $20.07 and a fifty-two week high of $30.66.

Graphic Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Saturday, June 15th were issued a $0.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. Graphic Packaging’s dividend payout ratio is presently 18.10%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GPK. Stifel Nicolaus assumed coverage on Graphic Packaging in a research report on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price on the stock. Robert W. Baird increased their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. 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 note on Monday, July 8th. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Truist Financial reiterated a “buy” rating and set a $35.00 price objective (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Graphic Packaging currently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

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.