Packaging Corp Of America (PKG) Expected to Post Earnings of $1.51 Per Share

Wall Street analysts forecast that Packaging Corp Of America (NYSE:PKG) will report earnings per share (EPS) of $1.51 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Packaging Corp Of America’s earnings, with the lowest EPS estimate coming in at $1.50 and the highest estimate coming in at $1.53. Packaging Corp Of America reported earnings per share of $1.23 in the same quarter last year, which suggests a positive year over year growth rate of 22.8%. The business is expected to issue its next earnings results after the market closes on Tuesday, January 30th.

On average, analysts expect that Packaging Corp Of America will report full year earnings of $5.99 per share for the current fiscal year, with EPS estimates ranging from $5.97 to $6.01. For the next financial year, analysts anticipate that the business will post earnings of $6.73 per share, with EPS estimates ranging from $6.43 to $6.95. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year.

A number of research firms have recently commented on PKG. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research note on Wednesday, October 18th. Zacks Investment Research raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Stephens set a $136.00 target price on Packaging Corp Of America and gave the company a “buy” rating in a research note on Wednesday, January 10th. Barclays upped their target price on Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, October 30th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $130.00 target price (up previously from $115.00) on shares of Packaging Corp Of America in a research note on Monday, January 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $118.92.

In related news, SVP Charles J. Carter sold 6,150 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $117.04, for a total value of $719,796.00. Following the transaction, the senior vice president now 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 SEC, which can be accessed through the SEC website. Also, SVP Thomas W.H. Walton sold 6,027 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the transaction, the senior vice president now directly owns 32,690 shares in the company, valued at approximately $3,796,943.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,177 shares of company stock worth $1,427,532. Insiders own 1.20% of the company’s stock.

A number of large investors have recently made changes to their positions in PKG. Franklin Resources Inc. grew its stake in Packaging Corp Of America by 26.2% in the second quarter. Franklin Resources Inc. now owns 4,860 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,008 shares in the last quarter. Alliancebernstein L.P. grew its stake in Packaging Corp Of America by 14.3% in the second quarter. Alliancebernstein L.P. now owns 97,417 shares of the industrial products company’s stock worth $10,851,000 after purchasing an additional 12,222 shares in the last quarter. Teachers Advisors LLC grew its stake in Packaging Corp Of America by 0.5% in the second quarter. Teachers Advisors LLC now owns 236,121 shares of the industrial products company’s stock worth $26,302,000 after purchasing an additional 1,250 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Packaging Corp Of America by 1.8% in the second quarter. Thrivent Financial For Lutherans now owns 78,432 shares of the industrial products company’s stock worth $8,737,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Packaging Corp 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 worth $256,000 after purchasing an additional 34 shares in the last quarter. 90.09% of the stock is currently owned by institutional investors.

Shares of Packaging Corp Of America (NYSE PKG) opened at $127.56 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. Packaging Corp Of America has a 52 week low of $85.36 and a 52 week high of $130.19. The firm has a market capitalization of $12,040.00, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.26 and a beta of 1.81.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, December 26th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. Packaging Corp Of America’s dividend payout ratio is 46.67%.

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Packaging Corp 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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