Wall Street brokerages forecast that Packaging Corporation of America (NYSE:PKG) will report sales of $1.62 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Packaging Corporation of America’s earnings. The highest sales estimate is $1.65 billion and the lowest is $1.59 billion. Packaging Corporation of America posted sales of $1.48 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, October 25th.

According to Zacks, analysts expect that Packaging Corporation of America will report full-year sales of $1.62 billion for the current year, with estimates ranging from $6.25 billion to $6.45 billion. For the next financial year, analysts expect that the firm will post sales of $6.65 billion per share, with estimates ranging from $6.37 billion to $6.88 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Packaging Corporation of America.

Packaging Corporation of America (NYSE:PKG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year.

A number of equities research analysts have issued reports on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $118.00 price target on shares of Packaging Corporation of America in a research report on Friday, August 4th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corporation of America in a research report on Wednesday, October 18th. Stephens assumed coverage on Packaging Corporation of America in a research report on Tuesday. They issued an “overweight” rating and a $130.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $128.00 price target on shares of Packaging Corporation of America in a research report on Friday, August 18th. Finally, BidaskClub raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Packaging Corporation of America has a consensus rating of “Buy” and an average price target of $115.55.

Packaging Corporation of America (NYSE PKG) traded up 0.67% during trading on Tuesday, reaching $118.93. The company’s stock had a trading volume of 470,709 shares. The stock has a 50 day moving average price of $116.14 and a 200 day moving average price of $107.95. Packaging Corporation of America has a 1-year low of $78.03 and a 1-year high of $119.57. The stock has a market capitalization of $11.14 billion, a PE ratio of 22.92 and a beta of 1.83.

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of Packaging Corporation of America by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Packaging Corporation of America by 84.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 665 shares during the last quarter. Creative Planning increased its holdings in shares of Packaging Corporation of America by 7.9% in the 2nd quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 123 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Packaging Corporation of America in the 2nd quarter valued at about $200,000. Finally, Perpetual Ltd purchased a new position in shares of Packaging Corporation of America in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 88.19% of the company’s stock.

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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