$1.97 EPS Expected for Packaging Corp Of America (PKG) This Quarter

Wall Street brokerages expect Packaging Corp Of America (NYSE:PKG) to post earnings of $1.97 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Packaging Corp Of America’s earnings, with the lowest EPS estimate coming in at $1.97 and the highest estimate coming in at $1.98. Packaging Corp Of America posted earnings per share of $1.55 during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.1%. The company is expected to announce its next earnings report on Tuesday, April 23rd.

According to Zacks, analysts expect that Packaging Corp Of America will report full year earnings of $8.45 per share for the current fiscal year, with EPS estimates ranging from $7.70 to $8.94. For the next financial year, analysts expect that the business will post earnings of $8.45 per share, with EPS estimates ranging from $7.44 to $9.43. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Tuesday, January 29th. The industrial products company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.02. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Packaging Corp Of America had a return on equity of 30.83% and a net margin of 10.52%.



A number of research firms have recently commented on PKG. Citigroup lowered their target price on Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, January 7th. Wells Fargo & Co lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $110.00 to $93.00 in a report on Wednesday, January 9th. Zacks Investment Research lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Finally, ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $101.00.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Packaging Corp Of America by 2.7% in the fourth quarter. BlackRock Inc. now owns 9,597,824 shares of the industrial products company’s stock worth $801,034,000 after purchasing an additional 256,652 shares during the period. LSV Asset Management increased its stake in Packaging Corp Of America by 65.7% in the fourth quarter. LSV Asset Management now owns 1,964,742 shares of the industrial products company’s stock worth $163,977,000 after purchasing an additional 778,926 shares during the period. Victory Capital Management Inc. increased its stake in Packaging Corp Of America by 8.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,855,052 shares of the industrial products company’s stock worth $154,823,000 after purchasing an additional 138,552 shares during the period. Bank of New York Mellon Corp increased its stake in Packaging Corp Of America by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,593,171 shares of the industrial products company’s stock worth $132,967,000 after purchasing an additional 7,571 shares during the period. Finally, Geode Capital Management LLC increased its stake in Packaging Corp Of America by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 1,261,616 shares of the industrial products company’s stock worth $105,115,000 after purchasing an additional 95,452 shares during the period. Institutional investors and hedge funds own 85.92% of the company’s stock.

NYSE PKG opened at $98.75 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.05 and a debt-to-equity ratio of 0.94. The company has a market cap of $9.55 billion, a PE ratio of 12.30, a PEG ratio of 1.41 and a beta of 1.80. Packaging Corp Of America has a one year low of $77.90 and a one year high of $124.70.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, March 14th. This represents a $3.16 annualized dividend and a yield of 3.20%. Packaging Corp Of America’s payout ratio is presently 39.35%.

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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