Graphic Packaging (NYSE:GPK) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Graphic Packaging (NYSE:GPK) released its quarterly earnings results on Tuesday. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03, Briefing.com reports. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the firm posted $0.77 EPS. Graphic Packaging’s quarterly revenue was down 7.3% compared to the same quarter last year. Graphic Packaging updated its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Stock Up 0.7 %

GPK opened at $26.04 on Thursday. The company has a 50 day moving average of $27.51 and a 200 day moving average of $25.05. The company has a current ratio of 1.24, a quick ratio of 0.42 and a debt-to-equity ratio of 1.72. Graphic Packaging has a 12 month low of $20.07 and a 12 month high of $29.50. The company has a market cap of $8.00 billion, a PE ratio of 11.78 and a beta of 0.86.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 14th. Graphic Packaging’s dividend payout ratio (DPR) is currently 18.10%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Graphic Packaging

In related news, EVP Joseph P. Yost sold 70,000 shares of the 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 sale, the executive vice president now owns 205,231 shares of the company’s stock, valued at approximately $5,377,052.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.