Graphic Packaging Holding Company (GPK) Posts Quarterly Earnings Results, Meets Expectations
Graphic Packaging Holding Company (NYSE:GPK) announced its earnings results on Tuesday. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18, Bloomberg Earnings reports. Graphic Packaging Holding had a return on equity of 18.22% and a net margin of 3.98%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.20 EPS. The business’s revenue was up 3.1% compared to the same quarter last year.
Graphic Packaging Holding (GPK) opened at 14.27 on Tuesday. The stock’s 50 day moving average price is $13.76 and its 200 day moving average price is $13.51. Graphic Packaging Holding has a 1-year low of $12.00 and a 1-year high of $14.39. The company has a market cap of $4.42 billion, a P/E ratio of 26.47 and a beta of 1.16.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.10%. Graphic Packaging Holding’s payout ratio is 54.55%.
GPK has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $15.50 target price on shares of Graphic Packaging Holding in a research report on Friday, September 1st. DA Davidson reaffirmed a “buy” rating and set a $16.50 target price (down from $17.50) on shares of Graphic Packaging Holding in a research report on Monday, August 21st. BidaskClub raised Graphic Packaging Holding from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $15.00 target price on shares of Graphic Packaging Holding in a research report on Tuesday, October 10th. Finally, Zacks Investment Research raised Graphic Packaging Holding from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $15.76.
A hedge fund recently raised its stake in Graphic Packaging Holding stock. The Manufacturers Life Insurance Company boosted its position in shares of Graphic Packaging Holding Company (NYSE:GPK) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,512 shares of the industrial products company’s stock after acquiring an additional 774 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Graphic Packaging Holding were worth $172,000 at the end of the most recent reporting period. 94.97% of the stock is owned by institutional investors and hedge funds.
About Graphic Packaging Holding
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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