Packaging Corporation of America (NYSE:PKG) – Equities researchers at KeyCorp cut their Q3 2017 earnings estimates for Packaging Corporation of America in a report released on Wednesday. KeyCorp analyst A. Josephson now expects that the industrial products company will earn $1.68 per share for the quarter, down from their previous forecast of $1.72. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Packaging Corporation of America’s Q4 2017 earnings at $1.61 EPS.

Several other equities research analysts have also commented on PKG. BMO Capital Markets restated a “buy” rating and set a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $128.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 18th. BidaskClub upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Thursday, October 12th. Finally, Vertical Research restated a “buy” rating and set a $124.00 target price (up from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $114.10.

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Packaging Corporation of America (NYSE:PKG) opened at 118.36 on Monday. The stock has a market capitalization of $11.08 billion, a P/E ratio of 22.81 and a beta of 1.83. Packaging Corporation of America has a 12-month low of $78.03 and a 12-month high of $119.43. The firm’s 50-day moving average is $116.00 and its 200 day moving average is $107.52.

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

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Packaging Corporation of America by 4.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 227,694 shares of the industrial products company’s stock worth $25,363,000 after buying an additional 10,141 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Packaging Corporation of America by 23.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 565,067 shares of the industrial products company’s stock worth $62,943,000 after buying an additional 107,348 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Packaging Corporation of America by 2.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 293,576 shares of the industrial products company’s stock worth $32,701,000 after buying an additional 7,705 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Packaging Corporation of America by 34.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,298,086 shares of the industrial products company’s stock worth $144,594,000 after buying an additional 334,701 shares in the last quarter. Finally, AXA boosted its position in shares of Packaging Corporation of America by 77.8% in the 2nd quarter. AXA now owns 254,400 shares of the industrial products company’s stock worth $28,338,000 after buying an additional 111,300 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

In related news, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total value of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares in the company, valued at approximately $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 15th were given a $0.63 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. Packaging Corporation of America’s dividend payout ratio is presently 48.56%.

About Packaging Corporation 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.

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

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