Packaging Corp. of America (PKG) Set to Announce Earnings on Wednesday
Packaging Corp. of America (NYSE:PKG) is scheduled to be releasing its Q316 earnings data on Wednesday, October 19th. Analysts expect Packaging Corp. of America to post earnings of $1.31 per share and revenue of $559.20 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.
Packaging Corp. of America (NYSE:PKG) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.07. The business earned $1.42 billion during the quarter, compared to the consensus estimate of $1.46 billion. Packaging Corp. of America had a net margin of 7.95% and a return on equity of 27.74%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. On average, analysts expect Packaging Corp. of America to post $4.82 EPS for the current fiscal year and $5.23 EPS for the next fiscal year.
Shares of Packaging Corp. of America (NYSE:PKG) opened at 83.33 on Tuesday. The company has a market cap of $7.78 billion, a P/E ratio of 17.70 and a beta of 1.76. Packaging Corp. of America has a 52 week low of $44.32 and a 52 week high of $84.69. The firm has a 50-day moving average of $80.57 and a 200 day moving average of $71.68.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, September 15th were given a $0.63 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from Packaging Corp. of America’s previous quarterly dividend of $0.55. Packaging Corp. of America’s dividend payout ratio is 53.62%.
PKG has been the subject of a number of analyst reports. Credit Agricole SA upped their price objective on shares of Packaging Corp. of America from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Jefferies Group reiterated a “buy” rating on shares of Packaging Corp. of America in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded shares of Packaging Corp. of America from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. initiated coverage on shares of Packaging Corp. of America in a research report on Thursday, September 22nd. They issued a “sell” rating and a $77.00 price objective for the company. Finally, Deutsche Bank AG upped their price objective on shares of Packaging Corp. of America from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $78.46.
In other Packaging Corp. of America news, SVP Kent A. Pflederer sold 1,100 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $74.30, for a total value of $81,730.00. Following the transaction, the senior vice president now directly owns 34,623 shares in the company, valued at approximately $2,572,488.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Seven Eight Capital LLC purchased a new position in Packaging Corp. of America during the second quarter valued at $120,000. Van ECK Associates Corp raised its position in Packaging Corp. of America by 13.6% in the second quarter. Van ECK Associates Corp now owns 2,528 shares of the company’s stock valued at $169,000 after buying an additional 302 shares during the last quarter. Veritable L.P. purchased a new position in Packaging Corp. of America during the second quarter valued at $204,000. Sawtooth Asset Management Inc. purchased a new position in Packaging Corp. of America during the second quarter valued at $211,000. Finally, Cubist Systematic Strategies LLC raised its position in Packaging Corp. of America by 573.8% in the second quarter. Cubist Systematic Strategies LLC now owns 3,834 shares of the company’s stock valued at $257,000 after buying an additional 3,265 shares during the last quarter. Institutional investors own 86.82% of the company’s stock.
Packaging Corp. of America Company Profile
Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.
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