Equities analysts predict that Packaging Corporation of America (NYSE:PKG) will post $1.61 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Packaging Corporation of America’s earnings. The lowest sales estimate is $1.56 billion and the highest is $1.65 billion. Packaging Corporation of America reported sales of $1.48 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The business is scheduled to issue its next earnings results on Wednesday, October 18th.

On average, analysts expect that Packaging Corporation of America will report full year sales of $1.61 billion for the current financial year, with estimates ranging from $6.25 billion to $6.45 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.54 billion per share, with estimates ranging from $6.37 billion to $6.66 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Packaging Corporation of America.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.

Several research analysts have recently commented on PKG shares. BMO Capital Markets reiterated a “buy” rating and issued a $104.00 price objective (up previously from $100.00) on shares of Packaging Corporation of America in a report on Monday, May 1st. ValuEngine upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub downgraded Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp began coverage on Packaging Corporation of America in a report on Thursday, July 6th. They set a “sector weight” rating on the stock. Finally, Barclays PLC reduced their price target on Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Monday, May 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Packaging Corporation of America has an average rating of “Buy” and an average price target of $104.83.

A number of hedge funds have recently bought and sold shares of PKG. Camelot Portfolios LLC purchased a new stake in Packaging Corporation of America during the first quarter valued at $289,000. Canada Pension Plan Investment Board boosted its stake in Packaging Corporation of America by 4,143.8% in the first quarter. Canada Pension Plan Investment Board now owns 33,950 shares of the industrial products company’s stock valued at $3,110,000 after buying an additional 33,150 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Packaging Corporation of America by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,363,589 shares of the industrial products company’s stock valued at $216,553,000 after buying an additional 9,695 shares during the last quarter. Bank of Stockton boosted its stake in Packaging Corporation of America by 19.8% in the first quarter. Bank of Stockton now owns 3,625 shares of the industrial products company’s stock valued at $332,000 after buying an additional 600 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Packaging Corporation of America by 15.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,578 shares of the industrial products company’s stock valued at $694,000 after buying an additional 1,005 shares during the last quarter. 88.59% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This article was posted by American Banking News and is owned by of American Banking News. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/08/29/packaging-corporation-of-america-pkg-expected-to-post-quarterly-sales-of-1-61-billion.html.

Packaging Corporation of America (PKG) traded down 0.45% on Tuesday, reaching $108.57. The company’s stock had a trading volume of 421,337 shares. The company has a 50-day moving average price of $110.10 and a 200 day moving average price of $101.28. Packaging Corporation of America has a 12 month low of $77.73 and a 12 month high of $114.31. The company has a market cap of $10.17 billion, a P/E ratio of 20.92 and a beta of 1.86.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.52 annualized dividend and a yield of 2.31%. Packaging Corporation of America’s payout ratio is 48.56%.

Packaging Corporation of America Company Profile

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.

Get a free copy of the Zacks research report on Packaging Corporation of America (PKG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Packaging Corporation of America (NYSE:PKG)

Receive News & Ratings for Packaging Corporation of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corporation of America and related companies with MarketBeat.com's FREE daily email newsletter.