Equities analysts forecast that Packaging Corporation of America (NYSE:PKG) will announce sales of $1.61 billion for the current fiscal quarter, according to Zacks. 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 posted sales of $1.48 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.8%. The business is expected to announce its next earnings report on Wednesday, October 18th.

According to Zacks, analysts expect that Packaging Corporation of America will report full year sales of $1.61 billion for the current fiscal year, with estimates ranging from $6.25 billion to $6.45 billion. For the next year, analysts forecast that the business will post sales of $6.54 billion per share, with estimates ranging from $6.37 billion to $6.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Packaging Corporation of America.

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

PKG has been the topic of several research analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $128.00 price target (up from $114.00) on shares of Packaging Corporation of America in a research note on Friday, July 14th. KeyCorp initiated coverage on shares of Packaging Corporation of America in a research note on Thursday, July 6th. They set a “sector weight” rating on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Packaging Corporation of America from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $105.00 to $111.00 in a research note on Thursday, July 13th. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $118.00 price target on shares of Packaging Corporation of America in a research note on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $107.90.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total value of $707,640.00. Following the transaction, the vice president now directly owns 155,071 shares in the company, valued at $18,289,073.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Southeast Asset Advisors Inc. increased its stake in Packaging Corporation of America by 0.3% in the second quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock valued at $508,000 after purchasing an additional 12 shares during the period. Van ECK Associates Corp increased its stake in Packaging Corporation of America by 1.5% in the second quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 34 shares during the period. Advisor Partners LLC increased its stake in Packaging Corporation of America by 1.2% in the second quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock valued at $353,000 after purchasing an additional 39 shares during the period. Somerset Trust Co increased its stake in Packaging Corporation of America by 0.4% in the second quarter. Somerset Trust Co now owns 12,154 shares of the industrial products company’s stock valued at $1,353,000 after purchasing an additional 51 shares during the period. Finally, Capital Innovations LLC increased its stake in Packaging Corporation of America by 1.8% in the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 60 shares during the period. Institutional investors own 88.59% of the company’s stock.

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Shares of Packaging Corporation of America (NYSE PKG) opened at 115.88 on Friday. The company has a market capitalization of $10.85 billion, a P/E ratio of 22.33 and a beta of 1.86. Packaging Corporation of America has a one year low of $78.03 and a one year high of $118.97. The firm has a 50-day moving average price of $110.99 and a 200-day moving average price of $103.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. Packaging Corporation of America’s dividend payout ratio is presently 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.

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

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