Packaging Corp Of America (NYSE:PKG) Releases Earnings Results, Beats Estimates By $0.02 EPS

Packaging Corp Of America (NYSE:PKG) released its quarterly earnings data on Wednesday. The industrial products company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.02, Briefing.com reports. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.79 billion. Packaging Corp Of America had a return on equity of 29.23% and a net margin of 11.23%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business posted $2.23 EPS. Packaging Corp Of America updated its Q4 guidance to ~$1.70 EPS.

Shares of PKG stock traded down $1.54 during trading hours on Thursday, reaching $108.52. The company had a trading volume of 1,313,761 shares, compared to its average volume of 911,631. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.18 and a current ratio of 3.29. Packaging Corp Of America has a twelve month low of $77.90 and a twelve month high of $111.23. The company has a market capitalization of $10.28 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.71. The stock’s fifty day simple moving average is $104.94 and its 200 day simple moving average is $99.66.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were paid a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.91%. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 39.35%.

In other news, SVP Donald R. Shirley sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $101.48, for a total value of $507,400.00. Following the completion of the sale, the senior vice president now owns 12,790 shares in the company, valued at $1,297,929.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Thomas W.H. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total value of $601,020.00. Following the completion of the sale, the senior vice president now owns 34,118 shares of the company’s stock, valued at approximately $3,417,600.06. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

PKG has been the topic of a number of research reports. Seaport Global Securities downgraded Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective on the stock. in a report on Friday, July 12th. They noted that the move was a valuation call. KeyCorp restated a “sell” rating and issued a $89.00 price objective on shares of Packaging Corp Of America in a report on Thursday. Citigroup raised their price objective on Packaging Corp Of America from $101.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 price objective on the stock. in a report on Monday, October 14th. Finally, Bank of America raised their price objective on Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Packaging Corp Of America currently has a consensus rating of “Hold” and a consensus target price of $103.82.

Packaging Corp Of America Company Profile

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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Earnings History for Packaging Corp Of America (NYSE:PKG)

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