Seaport Res Ptn Research Analysts Cut Earnings Estimates for Packaging Co. of America (NYSE:PKG)

Packaging Co. of America (NYSE:PKG) – Equities researchers at Seaport Res Ptn lowered their Q2 2024 earnings per share (EPS) estimates for shares of Packaging Co. of America in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst M. Weintraub now anticipates that the industrial products company will earn $2.15 per share for the quarter, down from their prior forecast of $2.20. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.20 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.30 EPS and Q4 2024 earnings at $2.08 EPS.

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

Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price target on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $187.00 to $191.00 in a research note on Wednesday. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Truist Financial upped their target price on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus price target of $173.57.

Packaging Co. of America Stock Up 0.9 %

Packaging Co. of America stock opened at $172.85 on Friday. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The business has a fifty day moving average price of $181.92 and a 200-day moving average price of $168.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The stock has a market capitalization of $15.51 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 4.17 and a beta of 0.78.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. Packaging Co. of America’s payout ratio is currently 62.50%.

Insider Activity at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction 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 the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co lifted its holdings in Packaging Co. of America by 1.8% in the 4th quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 62 shares in the last quarter. Scotia Capital Inc. boosted its position in Packaging Co. of America by 1.2% during the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock worth $791,000 after acquiring an additional 63 shares during the last quarter. Essex Savings Bank grew its stake in Packaging Co. of America by 4.0% during the 4th quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 63 shares in the last quarter. Mather Group LLC. raised its holdings in Packaging Co. of America by 3.0% in the 4th quarter. Mather Group LLC. now owns 2,263 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 66 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

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.