Brokerages Expect Packaging Corp Of America (PKG) Will Post Earnings of $2.16 Per Share

Wall Street analysts expect that Packaging Corp Of America (NYSE:PKG) will report $2.16 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Packaging Corp Of America’s earnings, with the lowest EPS estimate coming in at $2.15 and the highest estimate coming in at $2.17. Packaging Corp Of America posted earnings per share of $1.56 in the same quarter last year, which indicates a positive year over year growth rate of 38.5%. The company is expected to issue its next quarterly earnings results on Tuesday, January 29th.

On average, analysts expect that Packaging Corp Of America will report full-year earnings of $8.03 per share for the current year, with EPS estimates ranging from $8.01 to $8.06. For the next fiscal year, analysts anticipate that the company will post earnings of $8.73 per share, with EPS estimates ranging from $8.50 to $9.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%.

PKG has been the subject of a number of research analyst reports. Seaport Global Securities initiated coverage on Packaging Corp Of America in a report on Tuesday, October 23rd. They issued a “buy” rating and a $112.00 price target for the company. Argus lowered their price target on Packaging Corp Of America from $130.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 26th. Barclays lowered their price target on Packaging Corp Of America from $100.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, October 29th. Deutsche Bank set a $120.00 price target on Packaging Corp Of America and gave the company a “hold” rating in a report on Monday, October 29th. Finally, ValuEngine raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $116.91.

Several hedge funds have recently bought and sold shares of PKG. Acadian Asset Management LLC acquired a new stake in shares of Packaging Corp Of America in the second quarter valued at approximately $155,000. Aperio Group LLC boosted its holdings in shares of Packaging Corp Of America by 10.2% in the second quarter. Aperio Group LLC now owns 29,585 shares of the industrial products company’s stock valued at $3,307,000 after acquiring an additional 2,746 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Packaging Corp Of America by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 310,044 shares of the industrial products company’s stock valued at $34,660,000 after acquiring an additional 20,002 shares during the period. Aviva PLC lifted its holdings in shares of Packaging Corp Of America by 1.0% during the second quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock worth $5,244,000 after purchasing an additional 460 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in shares of Packaging Corp Of America by 136.2% during the second quarter. Alps Advisors Inc. now owns 9,444 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 5,445 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Shares of PKG opened at $92.95 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.76 and a quick ratio of 1.74. The company has a market capitalization of $9.01 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.85. Packaging Corp Of America has a 52-week low of $83.54 and a 52-week high of $131.13.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 14th. Packaging Corp Of America’s payout ratio is currently 52.49%.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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