Packaging Co. of America (NYSE:PKG) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Packaging Co. of America (NYSE:PKG) released its earnings results on Tuesday. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15, Yahoo Finance reports. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Packaging Co. of America updated its Q4 2024 guidance to 2.470-2.470 EPS.

Packaging Co. of America Stock Up 5.0 %

Shares of PKG stock traded up $10.87 on Wednesday, hitting $227.53. The stock had a trading volume of 78,702 shares, compared to its average volume of 593,854. The stock’s 50 day moving average is $210.13 and its 200-day moving average is $193.45. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 4.33 and a beta of 0.77. Packaging Co. of America has a 52-week low of $145.02 and a 52-week high of $229.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America’s payout ratio is currently 62.74%.

Wall Street Analyst Weigh In

PKG has been the topic of several research analyst reports. Truist Financial lifted their price objective on Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.00.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.