Packaging Co. of America (NYSE:PKG) Releases Earnings Results, Beats Estimates By $0.15 EPS

Packaging Co. of America (NYSE:PKG - Get Free Report) announced its earnings results on Tuesday. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.15, Yahoo Finance reports. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. Packaging Co. of America updated its Q4 2024 guidance to 2.470-2.470 EPS.

Packaging Co. of America Price Performance

NYSE PKG traded up $11.99 during mid-day trading on Wednesday, hitting $228.65. The stock had a trading volume of 1,098,631 shares, compared to its average volume of 598,829. The firm's 50 day moving average is $210.13 and its 200 day moving average is $193.45. Packaging Co. of America has a twelve month low of $145.02 and a twelve month high of $231.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 4.33 and a beta of 0.77.

Packaging Co. of America Dividend Announcement

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

Insider Activity at Packaging Co. of America

In related 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 value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Packaging Co. of America news, 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the company's stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares of the company's stock, valued at approximately $4,077,128.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PKG shares. 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. Citigroup boosted 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. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Truist Financial boosted their price target on Packaging Co. of America from $219.00 to $242.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $216.00.

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.