$1.62 Billion in Sales Expected for Packaging Corp Of America (PKG) This Quarter

Equities research analysts expect Packaging Corp Of America (NYSE:PKG) to report $1.62 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Packaging Corp Of America’s earnings. The highest sales estimate is $1.68 billion and the lowest is $1.56 billion. Packaging Corp Of America reported sales of $1.48 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The firm is expected to report its next earnings report after the market closes on Tuesday, January 30th.

According to Zacks, analysts expect that Packaging Corp Of America will report full year sales of $1.62 billion for the current fiscal year, with estimates ranging from $6.32 billion to $6.42 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.73 billion per share, with estimates ranging from $6.50 billion to $6.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings data 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 EPS.

PKG has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of 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. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research note on Sunday, October 29th. Stephens initiated coverage on shares of Packaging Corp Of America in a research note on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target on the stock. Finally, ValuEngine upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $118.92.

Packaging Corp Of America (NYSE PKG) traded up $1.45 during midday trading on Monday, hitting $127.56. 741,100 shares of the company traded hands, compared to its average volume of 690,500. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. The company has a market cap of $12,035.35, a price-to-earnings ratio of 23.62, a PEG ratio of 2.28 and a beta of 1.82. Packaging Corp Of America has a 1 year low of $85.76 and a 1 year high of $130.19.

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

In related news, SVP Charles J. Carter sold 6,150 shares of the stock in a transaction 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 sale, 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 this link. Also, SVP Thomas W.H. Walton sold 6,027 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the sale, the senior vice president now directly owns 32,690 shares in the company, valued at $3,796,943.50. The disclosure for this sale can be found here. Insiders sold a total of 67,177 shares of company stock worth $1,427,532 over the last ninety days. Insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Packaging Corp Of America by 2.3% during the second quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock worth $939,046,000 after buying an additional 191,348 shares in the last quarter. State Street Corp lifted its holdings in Packaging Corp Of America by 1.0% during the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after purchasing an additional 31,624 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Packaging Corp Of America by 17.9% during the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after purchasing an additional 319,452 shares in the last quarter. FMR LLC lifted its holdings in Packaging Corp Of America by 41.9% during the second quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock valued at $153,902,000 after purchasing an additional 407,702 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Packaging Corp Of America by 4.5% during the second quarter. Northern Trust Corp now owns 1,078,479 shares of the industrial products company’s stock valued at $120,132,000 after purchasing an additional 46,737 shares in the last quarter. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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About Packaging Corp 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.

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