Brokers Issue Forecasts for Graphic Packaging Holding Company’s Q3 2017 Earnings (GPK)
Graphic Packaging Holding Company (NYSE:GPK) – Stock analysts at KeyCorp cut their Q3 2017 earnings estimates for shares of Graphic Packaging Holding in a report released on Tuesday. KeyCorp analyst A. Josephson now forecasts that the industrial products company will post earnings of $0.18 per share for the quarter, down from their previous forecast of $0.23.
Graphic Packaging Holding (NYSE:GPK) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. Graphic Packaging Holding had a return on equity of 18.28% and a net margin of 3.98%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year.
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A number of other brokerages have also issued reports on GPK. Zacks Investment Research lowered Graphic Packaging Holding from a “hold” rating to a “sell” rating in a report on Friday, July 14th. BMO Capital Markets reissued a “buy” rating and issued a $15.50 price objective on shares of Graphic Packaging Holding in a report on Friday, June 23rd. DA Davidson initiated coverage on Graphic Packaging Holding in a report on Monday, July 10th. They issued a “buy” rating and a $17.50 price objective for the company. BidaskClub raised Graphic Packaging Holding from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 price target on shares of Graphic Packaging Holding in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Graphic Packaging Holding has an average rating of “Buy” and a consensus price target of $15.73.
Graphic Packaging Holding (NYSE:GPK) opened at 13.25 on Friday. The firm has a market capitalization of $4.11 billion, a PE ratio of 20.35 and a beta of 1.15. Graphic Packaging Holding has a one year low of $12.00 and a one year high of $14.70. The company’s 50-day moving average price is $13.51 and its 200 day moving average price is $13.29.
Institutional investors have recently modified their holdings of the stock. Cadence Capital Management LLC raised its position in shares of Graphic Packaging Holding by 51.3% in the first quarter. Cadence Capital Management LLC now owns 59,951 shares of the industrial products company’s stock worth $772,000 after buying an additional 20,315 shares during the last quarter. OLD National Bancorp IN bought a new stake in Graphic Packaging Holding during the first quarter valued at $520,000. BlackRock Inc. raised its stake in Graphic Packaging Holding by 16,552.6% in the first quarter. BlackRock Inc. now owns 14,893,409 shares of the industrial products company’s stock valued at $191,677,000 after buying an additional 14,803,973 shares in the last quarter. Comerica Bank raised its stake in Graphic Packaging Holding by 55.5% in the fourth quarter. Comerica Bank now owns 34,407 shares of the industrial products company’s stock valued at $441,000 after buying an additional 12,280 shares in the last quarter. Finally, National Investment Services Inc. WI raised its stake in Graphic Packaging Holding by 31.7% in the first quarter. National Investment Services Inc. WI now owns 13,426 shares of the industrial products company’s stock valued at $173,000 after buying an additional 3,229 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.
In other Graphic Packaging Holding news, Director G Andrea Botta sold 10,982 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.45, for a total transaction of $147,707.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, June 13th. Graphic Packaging Holding’s payout ratio is currently 54.55%.
Graphic Packaging Holding Company Profile
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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