Graphic Packaging (NYSE:GPK) Releases FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.650-2.850 for the period, compared to the consensus estimate of 2.670. The company issued revenue guidance of -. Graphic Packaging also updated its FY24 guidance to $2.65-2.85 EPS.

Graphic Packaging Stock Up 3.9 %

Shares of NYSE:GPK traded up $1.09 during mid-day trading on Tuesday, hitting $29.10. 4,333,354 shares of the company traded hands, compared to its average volume of 2,681,625. The firm has a market cap of $8.94 billion, a P/E ratio of 13.37, a PEG ratio of 10.15 and a beta of 0.85. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.52 and a current ratio of 1.24. Graphic Packaging has a 52-week low of $20.07 and a 52-week high of $29.74. The firm’s 50 day simple moving average is $27.24 and its 200 day simple moving average is $26.98.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.77 EPS. Graphic Packaging’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Graphic Packaging will post 2.69 EPS for the current year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Saturday, June 15th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.37%. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GPK shares. StockNews.com lowered Graphic Packaging from a buy rating to a hold rating in a research report on Thursday, July 11th. Truist Financial boosted their price target on Graphic Packaging from $31.00 to $33.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Stifel Nicolaus initiated coverage on Graphic Packaging in a research report on Tuesday, July 9th. They set a buy rating and a $35.20 price target for the company. Citigroup reduced their price target on Graphic Packaging from $31.00 to $30.00 and set a buy rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company reissued an underweight rating and issued a $21.00 price objective on shares of Graphic Packaging in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $29.03.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.