Graphic Packaging (NYSE:GPK) Issues FY24 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.49-2.61 for the period, compared to the consensus EPS estimate of $2.63.

Analysts Set New Price Targets

Several research firms have weighed in on GPK. Royal Bank of Canada reduced their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Truist Financial cut Graphic Packaging from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $30.00 in a report on Wednesday. Stifel Nicolaus assumed coverage on Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. Citigroup cut 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 note on Monday, July 8th. Finally, StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Graphic Packaging has an average rating of “Hold” and an average target price of $31.53.

Graphic Packaging Stock Down 0.3 %

NYSE GPK traded down $0.08 during trading on Wednesday, hitting $28.58. The stock had a trading volume of 2,716,424 shares, compared to its average volume of 2,536,364. Graphic Packaging has a 12 month low of $21.08 and a 12 month high of $30.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45. The company’s 50-day moving average price is $29.42 and its two-hundred day moving average price is $28.18. The company has a market capitalization of $8.78 billion, a PE ratio of 12.93, a P/E/G ratio of 10.94 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. As a group, sell-side analysts forecast that Graphic Packaging will post 2.65 EPS for the current year.

Graphic Packaging Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, October 5th. Investors of record on Sunday, September 15th were paid a $0.10 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.40%. Graphic Packaging’s dividend payout ratio (DPR) is currently 18.10%.

Insider Buying and Selling at Graphic Packaging

In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the transaction, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the completion of the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

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.