Graphic Packaging (NYSE:GPK) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Graphic Packaging (NYSE:GPK) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04, Briefing.com reports. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The firm’s revenue was down 6.5% compared to the same quarter last year. Graphic Packaging updated its FY24 guidance to $2.65-2.85 EPS and its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Stock Up 3.5 %

Shares of GPK opened at $30.12 on Thursday. The stock has a market capitalization of $9.25 billion, a PE ratio of 13.63, a P/E/G ratio of 10.59 and a beta of 0.85. Graphic Packaging has a 1 year low of $20.07 and a 1 year high of $30.66. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.52 and a current ratio of 1.45. The company’s 50-day simple moving average is $27.27 and its 200-day simple moving average is $27.00.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders 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 annualized dividend and a dividend yield of 1.33%. Graphic Packaging’s dividend payout ratio is presently 18.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GPK. Stifel Nicolaus began coverage on shares of Graphic Packaging in a report on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. Royal Bank of Canada boosted their price target on shares of Graphic Packaging from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday. Citigroup lowered their price target on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.15.

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.