Packaging Corp Of America (PKG) Posts Quarterly Earnings, Beats Estimates By $0.05 EPS
Packaging Corp Of America (NYSE:PKG) posted its quarterly earnings results on Monday. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.11 by $0.05, Analyst Ratings Net reports. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. Packaging Corp Of America updated its Q3 guidance to $1.25 EPS.
Shares of Packaging Corp Of America (NYSE:PKG) traded down 2.17% during mid-day trading on Monday, hitting $66.20. 2,219,496 shares of the company’s stock traded hands. Packaging Corp Of America has a one year low of $51.70 and a one year high of $75.10. The stock’s 50-day moving average is $69.9 and its 200-day moving average is $68.50. The company has a market cap of $6.414 billion and a price-to-earnings ratio of 14.24.
On the ratings front, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Packaging Corp Of America in a research note on Thursday, April 24th. They now have a $85.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $72.44.
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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