Equities analysts expect Packaging Co. of America (NYSE:PKG – Get Rating) to report $2.87 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Packaging Co. of America’s earnings, with the lowest EPS estimate coming in at $2.84 and the highest estimate coming in at $2.91. Packaging Co. of America reported earnings of $2.17 per share during the same quarter last year, which would indicate a positive year over year growth rate of 32.3%. The business is expected to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Packaging Co. of America will report full year earnings of $11.66 per share for the current fiscal year, with EPS estimates ranging from $11.35 to $12.02. For the next year, analysts expect that the firm will post earnings of $12.23 per share, with EPS estimates ranging from $11.00 to $13.83. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Packaging Co. of America.
Packaging Co. of America (NYSE:PKG – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The industrial products company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. Packaging Co. of America had a return on equity of 27.11% and a net margin of 11.50%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year.
Several brokerages recently issued reports on PKG. Argus lifted their target price on Packaging Co. of America from $160.00 to $176.00 in a research report on Friday, April 29th. UBS Group raised Packaging Co. of America from a “sell” rating to a “neutral” rating and lifted their target price for the company from $127.00 to $154.00 in a research report on Thursday, February 17th. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $182.00 in a research report on Wednesday, April 27th. Seaport Res Ptn raised Packaging Co. of America from a “neutral” rating to a “buy” rating in a research report on Friday, January 28th. Finally, Wells Fargo & Company lifted their target price on Packaging Co. of America from $154.00 to $162.00 in a research report on Thursday, April 28th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Packaging Co. of America has a consensus rating of “Buy” and a consensus price target of $165.86.
Packaging Co. of America stock traded up $3.49 during mid-day trading on Friday, reaching $159.90. The stock had a trading volume of 689,735 shares, compared to its average volume of 690,752. The firm has a market capitalization of $14.98 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.99 and a current ratio of 2.96. Packaging Co. of America has a fifty-two week low of $124.78 and a fifty-two week high of $168.50. The stock’s 50-day simple moving average is $157.72 and its 200-day simple moving average is $146.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be paid a $1.25 dividend. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $1.00. This represents a $5.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, June 14th. Packaging Co. of America’s dividend payout ratio is currently 40.90%.
In other news, Director Donna A. Harman acquired 500 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was purchased at an average cost of $153.21 per share, for a total transaction of $76,605.00. Following the acquisition, the director now owns 2,725 shares of the company’s stock, valued at $417,497.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 7,347 shares of the company’s stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $163.00, for a total value of $1,197,561.00. Following the completion of the transaction, the executive vice president now owns 23,996 shares of the company’s stock, valued at $3,911,348. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Private Wealth Services LLC purchased a new stake in Packaging Co. of America during the 1st quarter valued at about $212,000. Sawtooth Solutions LLC purchased a new stake in Packaging Co. of America during the 1st quarter valued at about $343,000. The Manufacturers Life Insurance Company boosted its holdings in Packaging Co. of America by 4.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 89,376 shares of the industrial products company’s stock valued at $13,952,000 after acquiring an additional 3,504 shares during the period. Toroso Investments LLC raised its position in Packaging Co. of America by 257.4% during the 1st quarter. Toroso Investments LLC now owns 9,796 shares of the industrial products company’s stock valued at $1,529,000 after purchasing an additional 7,055 shares during the last quarter. Finally, Baader Bank INC bought a new position in Packaging Co. of America during the 1st quarter valued at approximately $862,000. Hedge funds and other institutional investors own 91.01% of the company’s stock.
Packaging Co. of America Company Profile (Get Rating)
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.
Get a free copy of the Zacks research report on Packaging Co. of America (PKG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Packaging Co. of America right now?
Before you consider Packaging Co. of America, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Packaging Co. of America wasn’t on the list.
While Packaging Co. of America currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here
Tags: #EPS #Expected #Packaging #America #NYSEPKG #Quarter #MarketBeat