FY2024 Earnings Forecast for PKG Issued By Seaport Res Ptn

Packaging Co. of America (NYSE:PKG - Free Report) - Equities researchers at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of Packaging Co. of America in a research note issued on Wednesday, October 23rd. Seaport Res Ptn analyst M. Weintraub now forecasts that the industrial products company will post earnings per share of $9.10 for the year, up from their previous estimate of $8.85. The consensus estimate for Packaging Co. of America's current full-year earnings is $8.77 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America's Q4 2024 earnings at $2.53 EPS and FY2025 earnings at $11.50 EPS.

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 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial restated a "buy" rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.60.

Packaging Co. of America Price Performance

Shares of NYSE PKG traded down $1.65 during mid-day trading on Friday, hitting $225.86. 451,765 shares of the company's stock traded hands, compared to its average volume of 598,833. 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 1 year low of $148.50 and a 1 year high of $231.30. The company's 50-day moving average is $212.04 and its two-hundred day moving average is $194.18. The company has a market capitalization of $20.28 billion, a P/E ratio of 28.23, a PEG ratio of 4.24 and a beta of 0.77.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new stake in shares of Packaging Co. of America in the first quarter valued at about $25,000. Asset Dedication LLC raised its holdings in shares of Packaging Co. of America by 200.0% in the 2nd 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 in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the 3rd quarter worth approximately $32,000. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America during the second quarter valued at approximately $33,000. Finally, Headlands Technologies LLC purchased a new position in Packaging Co. of America during the first quarter valued at approximately $43,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's dividend payout ratio is currently 62.50%.

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.