Packaging Co. of America (NYSE:PKG) Issues Quarterly Earnings Results

Packaging Co. of America (NYSE:PKG) released its earnings results on Monday. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09, Briefing.com reports. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. 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 firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Packaging Co. of America updated its Q2 guidance to $2.07 EPS and its Q2 2024 guidance to 2.070-2.070 EPS.

Packaging Co. of America Price Performance

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

Packaging Co. of America Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on PKG shares. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Truist Financial boosted their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Citigroup boosted their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.29.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. In the last three months, insiders sold 38,041 shares of company stock valued at $6,799,177. 1.70% of the stock is owned by insiders.

About Packaging Co. of America

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.