Packaging Corp. of America Reaches New 12-Month High at $64.39 (PKG)
Packaging Corp. of America (NYSE:PKG) set a new 52-week high during mid-day trading on Friday, ARN reports. The stock traded as high as $64.39 and last traded at $64.15, with a volume of 462,313 shares. The stock had previously closed at $63.41.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Packaging Corp. of America from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 17th. They now have a $65.30 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Packaging Corp. of America in a research note to investors on Friday, December 6th. They now have a $52.00 price target on the stock, up previously from $47.00. Finally, analysts at Jefferies Group raised their price target on shares of Packaging Corp. of America to $69.00 in a research note to investors on Monday, November 18th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $58.66.
Packaging Corp. of America has a one year low of $37.86 and a one year high of $64.39. The stock has a 50-day moving average of $61.98 and a 200-day moving average of $57.3. The company has a market cap of $6.246 billion and a price-to-earnings ratio of 22.81.
Packaging Corp. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $842.40 million for the quarter, compared to the consensus estimate of $830.70 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts expect that Packaging Corp. of America will post $3.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Monday, December 23rd will be paid a dividend of 0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, December 19th.
Packaging Corporation of America is a producer of containerboard in the United States. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products, including conventional shipping containers used to protect and transport manufactured goods, multi-color boxes and displays.
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