Seaport Res Ptn Issues Positive Forecast for PKG Earnings

Packaging Co. of America (NYSE:PKG - Free Report) - Investment analysts at Seaport Res Ptn raised their Q3 2024 earnings per share estimates for shares of Packaging Co. of America in a research note issued on Monday, October 21st. Seaport Res Ptn analyst M. Weintraub now anticipates that the industrial products company will post earnings of $2.55 per share for the quarter, up from their prior estimate 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.

Several other equities analysts have also commented on the company. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Citigroup boosted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on Packaging Co. of America from $215.00 to $235.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Truist Financial upped their target price on Packaging Co. of America from $219.00 to $242.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $216.00.

Packaging Co. of America Stock Up 4.8 %

Packaging Co. of America stock traded up $10.34 during midday trading on Wednesday, hitting $227.00. 39,973 shares of the company were exchanged, compared to its average volume of 593,665. The company's fifty day moving average price is $210.13 and its 200-day moving average price is $193.45. The company has a market cap of $20.39 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. Packaging Co. of America has a fifty-two week low of $145.02 and a fifty-two week high of $229.91.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm 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%. Packaging Co. of America's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its stake in shares of Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company's stock worth $13,419,000 after purchasing an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company's stock worth $17,168,000 after purchasing an additional 21,143 shares in the last quarter. Summit Financial Strategies Inc. grew its stake in shares of Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company's stock worth $42,809,000 after purchasing an additional 12,129 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Packaging Co. of America by 6.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company's stock worth $41,839,000 after purchasing an additional 14,277 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Packaging Co. of America by 10.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company's stock worth $20,678,000 after purchasing an additional 10,516 shares in the last quarter. Institutional investors own 89.78% of the company's stock.

Insider Activity

In other news, EVP Charles J. Carter sold 5,389 shares of the business'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 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 approximately $5,012,794.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Donald R. Shirley sold 6,000 shares of the company's 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 in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the company'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 transaction, the executive vice president now owns 25,539 shares of the company's stock, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America's dividend payout ratio (DPR) is 62.74%.

Packaging Co. of America Company Profile

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.