Packaging Co. of America (NYSE:PKG) to Post Q2 2024 Earnings of $2.07 Per Share, Zacks Research Forecasts

Packaging Co. of America (NYSE:PKG) – Analysts at Zacks Research boosted their Q2 2024 EPS estimates for Packaging Co. of America in a note issued to investors on Monday, May 6th. Zacks Research analyst S. Deb now anticipates that the industrial products company will earn $2.07 per share for the quarter, up from their prior estimate of $1.94. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.21 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.09 EPS, FY2024 earnings at $8.08 EPS, Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.25 EPS, Q3 2025 earnings at $2.26 EPS, Q4 2025 earnings at $2.25 EPS, FY2025 earnings at $8.77 EPS and FY2026 earnings at $9.71 EPS.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. Packaging Co. of America’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 EPS.

PKG has been the topic of a number of other reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Citigroup lowered their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Packaging Co. of America has an average rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $178.43 on Wednesday. The business has a 50 day moving average of $182.45 and a 200 day moving average of $169.70. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The company has a market cap of $16.01 billion, a PE ratio of 22.30, a P/E/G ratio of 4.29 and a beta of 0.80. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Institutional Trading of Packaging Co. of America

Several institutional investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the first quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Packaging Co. of America during the 3rd quarter valued at about $25,000. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. grew its stake in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the period. Finally, Gables Capital Management Inc. purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $31,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last 90 days. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.80%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.