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

Graphic Packaging (NYSE:GPK - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.490-2.610 for the period, compared to the consensus earnings per share estimate of 2.630. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several brokerages have issued reports on GPK. Truist Financial downgraded Graphic Packaging from a "buy" rating to a "hold" rating and lowered their price target for the stock from $32.00 to $30.00 in a report on Wednesday, October 30th. Robert W. Baird upped their price objective on Graphic Packaging from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Royal Bank of Canada reduced their price objective on Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Graphic Packaging from $21.00 to $24.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut Graphic Packaging from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Graphic Packaging presently has a consensus rating of "Hold" and a consensus price target of $31.53.

Graphic Packaging Stock Performance

Shares of NYSE GPK traded up $0.01 during trading hours on Thursday, reaching $29.05. 2,475,517 shares of the stock were exchanged, compared to its average volume of 2,585,175. The stock's fifty day simple moving average is $29.28 and its 200 day simple moving average is $28.22. Graphic Packaging has a 52 week low of $21.25 and a 52 week high of $30.70. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 1.73. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 10.81 and a beta of 0.83.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business earned $0.74 EPS. Graphic Packaging's revenue was down 5.7% on a year-over-year basis. Sell-side analysts predict that Graphic Packaging will post 2.52 EPS for the current year.

Insiders Place Their Bets

In other Graphic Packaging news, EVP Michael James Farrell sold 25,900 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $750,841.00. Following the transaction, the executive vice president now owns 81,026 shares in the company, valued at $2,348,943.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,372,697.53. Following the transaction, the chief executive officer now owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael James Farrell sold 25,900 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the transaction, the executive vice president now directly owns 81,026 shares of the company's stock, valued at approximately $2,348,943.74. 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.