Packaging Co. of America (NYSE:PKG) Expected to Announce Quarterly Sales of $2.13 Billion

Analysts predict that Packaging Co. of America (NYSE:PKGGet Rating) will announce $2.13 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Packaging Co. of America’s earnings. The highest sales estimate is $2.19 billion and the lowest is $2.07 billion. Packaging Co. of America posted sales of $1.88 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Packaging Co. of America will report full-year sales of $8.64 billion for the current fiscal year, with estimates ranging from $8.48 billion to $8.78 billion. For the next fiscal year, analysts forecast that the firm will post sales of $8.76 billion, with estimates ranging from $8.61 billion to $8.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Packaging Co. of America.

Packaging Co. of America (NYSE:PKGGet Rating) last posted its quarterly earnings results on Monday, April 25th. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.19. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.05 billion. Packaging Co. of America had a net margin of 11.50% and a return on equity of 27.11%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share.

A number of research firms have recently commented on PKG. StockNews.com began coverage on shares of Packaging Co. of America in a research report on Thursday, March 31st. They issued a “buy” rating for the company. UBS Group upgraded shares of Packaging Co. of America from a “sell” rating to a “neutral” rating and raised their price objective for the company from $127.00 to $154.00 in a research report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Packaging Co. of America from $141.00 to $158.00 and gave the company a “hold” rating in a research report on Monday, April 18th. Argus raised their target price on shares of Packaging Co. of America from $160.00 to $176.00 in a research note on Friday, April 29th. Finally, Zacks Investment Research raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating and set a $172.00 target price on the stock in a research note on Wednesday, February 2nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $165.86.

NYSE:PKG traded down $1.11 on Monday, reaching $155.40. 695,820 shares of the company’s stock were exchanged, compared to its average volume of 571,986. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.96 and a quick ratio of 1.99. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 2.73 and a beta of 0.76. Packaging Co. of America has a 52 week low of $124.78 and a 52 week high of $168.50. The stock has a fifty day simple moving average of $157.24 and a 200-day simple moving average of $144.79.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Tuesday, March 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, March 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.57%. Packaging Co. of America’s payout ratio is 40.90%.

In other Packaging Co. of America news, EVP Charles J. Carter sold 7,347 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $163.00, for a total value of $1,197,561.00. Following the completion of the sale, the executive vice president now owns 23,996 shares of the company’s stock, valued at $3,911,348. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Packaging Co. of America by 45,608.2% in the 4th quarter. Nordea Investment Management AB now owns 2,093,434 shares of the industrial products company’s stock valued at $281,588,000 after buying an additional 2,088,854 shares during the period. FIL Ltd acquired a new position in shares of Packaging Co. of America during the 3rd quarter worth about $165,196,000. Norges Bank acquired a new position in shares of Packaging Co. of America during the 4th quarter worth about $131,412,000. Bank of America Corp DE boosted its position in shares of Packaging Co. of America by 15.3% during the 4th quarter. Bank of America Corp DE now owns 3,870,019 shares of the industrial products company’s stock worth $526,904,000 after acquiring an additional 514,803 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Packaging Co. of America by 28.5% in the 4th quarter. American Century Companies Inc. now owns 2,117,210 shares of the industrial products company’s stock valued at $288,258,000 after purchasing an additional 469,501 shares during the period. 91.01% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Company Profile (Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

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