Packaging Corporation of America (NYSE:PKG) – Stock analysts at KeyCorp lowered their FY2017 earnings per share (EPS) estimates for Packaging Corporation of America in a research note issued to investors on Sunday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $5.98 per share for the year, down from their prior estimate of $6.08. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Packaging Corporation of America’s Q4 2017 earnings at $1.50 EPS and FY2018 earnings at $6.43 EPS.

Several other brokerages have also recently issued reports on PKG. Stephens assumed coverage on shares of Packaging Corporation of America in a research note on Tuesday, October 24th. They issued an “overweight” rating and a $130.00 price objective on the stock. Zacks Investment Research cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Monday. Barclays PLC lifted their price objective on shares of Packaging Corporation of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $120.00 price objective (up previously from $94.00) on shares of Packaging Corporation of America in a research note on Monday, October 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $128.00 price objective (up previously from $114.00) on shares of Packaging Corporation of America in a research note on Friday, July 14th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Packaging Corporation of America presently has a consensus rating of “Hold” and a consensus price target of $117.36.

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Shares of Packaging Corporation of America (NYSE PKG) opened at 116.27 on Wednesday. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 22.40 and a beta of 1.83. The stock has a 50 day moving average of $116.74 and a 200 day moving average of $108.98. Packaging Corporation of America has a 52-week low of $78.03 and a 52-week high of $120.75.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.01). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Southeast Asset Advisors Inc. grew its position in Packaging Corporation of America by 0.3% during 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 in the last quarter. Van ECK Associates Corp grew its position in Packaging Corporation of America by 1.5% during 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 in the last quarter. Advisor Partners LLC grew its position in Packaging Corporation of America by 1.2% during 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 in the last quarter. Somerset Trust Co grew its position in Packaging Corporation of America by 0.4% during 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 in the last quarter. Finally, Ropes Wealth Advisors LLC grew its position in Packaging Corporation of America by 1.8% during the second quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 69 shares in the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Charles J. Carter sold 6,150 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the transaction, the senior vice president now directly owns 24,265 shares of the company’s stock, valued at $2,839,975.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 46.67%.

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.

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

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