Packaging Corp. of America (PKG) Announces Quarterly Results
Packaging Corp. of America (NYSE:PKG) posted its quarterly earnings results on Wednesday. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.89 by $0.15, American Banking News.com reports. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 71.7% on a year-over-year basis.
PKG has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Packaging Corp. of America from an “outperform” rating to a “neutral” rating in a research note on Monday, January 27th. They now have a $69.30 price target on the stock. On the ratings front, analysts at Ned Davis Research downgraded shares of Packaging Corp. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.16.
Packaging Corp. of America (NYSE:PKG) opened at 65.55 on Wednesday. Packaging Corp. of America has a one year low of $38.91 and a one year high of $66.50. The stock has a 50-day moving average of $63.92 and a 200-day moving average of $59.60. The company has a market cap of $6.339 billion and a price-to-earnings ratio of 23.56.
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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