What is Seaport Res Ptn's Forecast for PKG Q3 Earnings?

Packaging Co. of America (NYSE:PKG - Free Report) - Equities research analysts at Seaport Res Ptn lifted their Q3 2024 EPS estimates for shares of Packaging Co. of America in a report issued on Monday, October 21st. Seaport Res Ptn analyst M. Weintraub now expects that the industrial products company will post earnings per share of $2.55 for the quarter, up from their prior forecast of $2.50. The consensus estimate for Packaging Co. of America's current full-year earnings is $8.73 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America's Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $8.85 EPS and FY2025 earnings at $11.00 EPS.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company upped their price target on Packaging Co. of America from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Truist Financial increased their price objective on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, Citigroup increased their price target on 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 assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $216.00.

Packaging Co. of America Trading Up 5.5 %

Shares of PKG traded up $11.99 during mid-day trading on Wednesday, hitting $228.65. The company had a trading volume of 1,098,355 shares, compared to its average volume of 598,829. Packaging Co. of America has a 1-year low of $145.02 and a 1-year high of $231.30. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The business's 50-day simple moving average is $210.13 and its 200-day simple moving average is $193.45. The stock has a market cap of $20.54 billion, a PE ratio of 28.55, a P/E/G ratio of 4.33 and a beta of 0.77.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America's payout ratio is currently 62.74%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 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 transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction 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 approximately $4,077,128.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the business's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PKG. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter worth approximately $25,000. Asset Dedication LLC lifted its holdings in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the 3rd quarter worth about $32,000. Tortoise Investment Management LLC purchased a new position in shares of Packaging Co. of America in the second quarter worth approximately $33,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America in the 1st quarter valued at approximately $43,000. 89.78% of the stock is owned by institutional investors and hedge funds.

About Packaging Co. of America

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.