Graphic Packaging (NYSE:GPK) Announces Earnings Results

Graphic Packaging (NYSE:GPK - Get Free Report) issued its earnings results on Tuesday. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.04), Briefing.com reports. The business had revenue of $2.22 billion during 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 revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Graphic Packaging updated its FY24 guidance to $2.49-2.61 EPS.

Graphic Packaging Stock Performance

Shares of NYSE GPK traded down $0.11 during midday trading on Wednesday, reaching $28.55. The company's stock had a trading volume of 3,059,836 shares, compared to its average volume of 2,537,999. Graphic Packaging has a 12-month low of $21.08 and a 12-month high of $30.70. The firm has a 50 day moving average price of $29.42 and a 200-day moving average price of $28.18. The stock has a market capitalization of $8.77 billion, a P/E ratio of 12.93, a PEG ratio of 10.94 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58.

Graphic Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. Graphic Packaging's payout ratio is presently 18.10%.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the company's stock in a transaction that occurred 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael P. Doss sold 49,183 shares of the company's stock in a transaction that occurred 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Doss sold 86,374 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total value of $2,422,790.70. Following the completion of the transaction, the chief executive officer now owns 2,123,202 shares in the company, 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. Company insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GPK. Stifel Nicolaus started coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They set a "buy" rating and a $35.20 target price on the stock. StockNews.com downgraded Graphic Packaging from a "buy" rating to a "hold" rating in a research note on Wednesday. Robert W. Baird upped their price target on Graphic Packaging from $30.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Citigroup reduced their price objective on Graphic Packaging from $31.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, July 8th. Finally, Truist Financial lowered Graphic Packaging from a "buy" rating to a "hold" rating and lowered their target price for the stock from $32.00 to $30.00 in a research 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.53.

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.