Graphic Packaging (NYSE:GPK) Updates FY24 Earnings Guidance

Graphic Packaging (NYSE:GPK - Get Free Report) 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.

Graphic Packaging Trading Down 5.6 %

Graphic Packaging stock traded down $1.69 during mid-day trading on Tuesday, hitting $28.67. The company's stock had a trading volume of 6,144,899 shares, compared to its average volume of 2,535,495. The company has a 50 day moving average of $29.41 and a 200-day moving average of $28.18. The stock has a market cap of $8.81 billion, a PE ratio of 12.97, a P/E/G ratio of 10.94 and a beta of 0.83. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.58 and a current ratio of 1.45. Graphic Packaging has a one year low of $20.82 and a one year high of $30.70.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business's revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that Graphic Packaging will post 2.65 EPS for the current year.

Graphic Packaging Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GPK shares. Wells Fargo & Company increased their price target on Graphic Packaging from $21.00 to $24.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 31st. Stifel Nicolaus assumed coverage on Graphic Packaging in a research note on Tuesday, July 9th. They set a "buy" rating and a $35.20 price objective for the company. 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 note on Wednesday, July 31st. Royal Bank of Canada decreased their price objective on Graphic Packaging from $35.00 to $34.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Finally, Citigroup decreased 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.87.

Insider Activity

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

Graphic Packaging Company Profile

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.