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

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

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $216.66 on Wednesday. The firm has a market cap of $19.46 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $222.98. The business's fifty day simple moving average is $210.13 and its 200-day simple moving average is $193.45.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.31%. Packaging Co. of America's dividend payout ratio (DPR) is 62.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target 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. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Truist Financial raised their target price on Packaging Co. of America from $219.00 to $242.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, Citigroup boosted their price target 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.00.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company's stock in a transaction dated Thursday, July 25th. The shares were 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 $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred 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 in the company, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of the business's stock in a transaction that occurred on Thursday, July 25th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

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.

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