Packaging Corp Of America Declares Quarterly Dividend of $0.63 (PKG)
Packaging Corp Of America (NYSE:PKG) announced a quarterly dividend on Wednesday, May 17th. Shareholders of record on Thursday, June 15th will be paid a dividend of 0.63 per share by the industrial products company on Friday, July 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%.
Packaging Corp Of America has increased its dividend by an average of 27.0% per year over the last three years and has raised its dividend every year for the last 6 years. Packaging Corp Of America has a payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Packaging Corp Of America to earn $6.57 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 38.4%.
Shares of Packaging Corp Of America (NYSE:PKG) traded down 2.27% during mid-day trading on Wednesday, reaching $100.55. 501,827 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $95.50 and its 200-day moving average price is $90.54. The company has a market capitalization of $9.39 billion, a PE ratio of 20.52 and a beta of 1.84. Packaging Corp Of America has a one year low of $62.41 and a one year high of $103.17.
Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. Packaging Corp Of America had a net margin of 7.76% and a return on equity of 27.81%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $1.11 EPS. Packaging Corp Of America’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Packaging Corp Of America will post $5.93 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Packaging Corp Of America Declares Quarterly Dividend of $0.63 (PKG)” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/05/17/packaging-corp-of-america-declares-quarterly-dividend-of-0-63-pkg.html.
A number of research firms have issued reports on PKG. Deutsche Bank AG raised their price target on shares of Packaging Corp Of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Barclays PLC reduced their price target on shares of Packaging Corp Of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. ValuEngine lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. BMO Capital Markets reissued a “buy” rating and set a $104.00 price target (up from $100.00) on shares of Packaging Corp Of America in a research report on Monday, May 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $114.00 price target (up from $107.00) on shares of Packaging Corp Of America in a research report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Hold” and an average target price of $95.17.
About Packaging Corp Of America
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.