Packaging Co. of America (PKG) Set to Announce Earnings on Monday

Packaging Co. of America (NYSE:PKG) will announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.63 per share for the quarter. Packaging Co. of America has set its Q1 2024 guidance at 1.540-1.540 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the firm earned $2.35 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts expect Packaging Co. of America to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $179.89 on Friday. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The business has a 50-day moving average of $181.22 and a two-hundred day moving average of $167.48. The stock has a market capitalization of $16.15 billion, a P/E ratio of 21.21, a P/E/G ratio of 4.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio is currently 58.96%.

Insider Buying and Selling

In related news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Packaging Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centaurus Financial Inc. bought a new position in Packaging Co. of America during the first quarter valued at about $104,000. Industrial Alliance Investment Management Inc. increased its stake in Packaging Co. of America by 438.9% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 776 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 632 shares during the period. Ancora Advisors LLC increased its stake in Packaging Co. of America by 28.2% during the first quarter. Ancora Advisors LLC now owns 704 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 155 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at approximately $93,000. Finally, West Tower Group LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $79,000. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial boosted their price target on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Citigroup boosted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.29.

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.