Packaging Corp Of America Now Covered by BMO Capital Markets (PKG)
Analysts at BMO Capital Markets assumed coverage on shares of Packaging Corp Of America (NYSE:PKG) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 10,144 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $66.94, for a total transaction of $679,039.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Packaging Corp Of America in a research note on Wednesday, July 30th. They now have a $79.00 price target on the stock, up previously from $77.00. Separately, analysts at Barclays raised their price target on shares of Packaging Corp Of America from $68.00 to $72.00 in a research note on Wednesday, July 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at Credit Agricole upgraded shares of Packaging Corp Of America from an “underperform” rating to a “buy” rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.33.
Shares of Packaging Corp Of America (NYSE:PKG) opened at 69.69 on Thursday. Packaging Corp Of America has a 52-week low of $52.67 and a 52-week high of $75.10. The stock has a 50-day moving average of $66.79 and a 200-day moving average of $68.96. The company has a market cap of $6.771 billion and a price-to-earnings ratio of 13.52.
Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Monday, July 21st. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.11 by $0.05. 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. The company’s quarterly revenue was up 83.5% on a year-over-year basis. On average, analysts predict that Packaging Corp Of America will post $4.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 11th.
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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