Q1 2019 EPS Estimates for Packaging Corp Of America (PKG) Boosted by Analyst

Packaging Corp Of America (NYSE:PKG) – Stock analysts at Seaport Global Securities lifted their Q1 2019 earnings per share (EPS) estimates for shares of Packaging Corp Of America in a research note issued to investors on Wednesday, January 9th. Seaport Global Securities analyst M. Weintraub now anticipates that the industrial products company will earn $1.92 per share for the quarter, up from their prior estimate of $1.90. Seaport Global Securities currently has a “Buy” rating and a $112.00 target price on the stock.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion.

Several other research firms also recently weighed in on PKG. Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. BMO Capital Markets downgraded Packaging Corp Of America from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $130.00 to $108.00 in a research report on Tuesday, October 9th. ValuEngine downgraded Packaging Corp Of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Deutsche Bank set a $120.00 price target on Packaging Corp Of America and gave the stock a “hold” rating in a research report on Monday, October 29th. Finally, Wells Fargo & Co dropped their price target on Packaging Corp Of America from $140.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $108.10.

NYSE PKG opened at $91.12 on Thursday. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $131.13. The company has a market capitalization of $8.24 billion, a P/E ratio of 15.14, a PEG ratio of 1.20 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.76 and a debt-to-equity ratio of 0.99.

A number of institutional investors have recently added to or reduced their stakes in PKG. FMR LLC grew its position in shares of Packaging Corp Of America by 222.9% in the second quarter. FMR LLC now owns 3,050,688 shares of the industrial products company’s stock valued at $341,036,000 after purchasing an additional 2,105,782 shares during the period. JPMorgan Chase & Co. grew its position in shares of Packaging Corp Of America by 694.5% in the third quarter. JPMorgan Chase & Co. now owns 971,659 shares of the industrial products company’s stock valued at $106,582,000 after purchasing an additional 849,363 shares during the period. Schroder Investment Management Group grew its position in shares of Packaging Corp Of America by 189.6% in the third quarter. Schroder Investment Management Group now owns 997,051 shares of the industrial products company’s stock valued at $109,367,000 after purchasing an additional 652,718 shares during the period. Menora Mivtachim Holdings LTD. grew its position in shares of Packaging Corp Of America by 101.7% in the third quarter. Menora Mivtachim Holdings LTD. now owns 335,618 shares of the industrial products company’s stock valued at $36,814,000 after purchasing an additional 169,250 shares during the period. Finally, Morgan Stanley grew its position in shares of Packaging Corp Of America by 53.3% in the third quarter. Morgan Stanley now owns 451,330 shares of the industrial products company’s stock valued at $49,509,000 after purchasing an additional 156,842 shares during the period. 86.57% of the stock is owned by institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, December 14th. Packaging Corp Of America’s payout ratio is 52.49%.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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