Packaging Co. of America (PKG) to Release Quarterly Earnings on Tuesday

Packaging Co. of America (NYSE:PKG - Get Free Report) will announce its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.47 per share for the quarter. Packaging Co. of America has set its Q3 guidance at $2.45 EPS and its Q3 2024 guidance at 2.450-2.450 EPS.Investors interested in registering for the company's conference call can do so using this link.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the company earned $2.31 earnings per share. The company's revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect Packaging Co. of America to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $219.98 on Tuesday. 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 fifty day moving average price of $207.13 and a 200 day moving average price of $192.12. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $220.09. The company has a market cap of $19.75 billion, a PE ratio of 27.50, a P/E/G ratio of 4.25 and a beta of 0.77.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

Several brokerages recently weighed in on PKG. Bank of America raised their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 17th. Citigroup raised their target price 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 downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Saturday, September 28th. Wells Fargo & Company raised their target price on Packaging Co. of America from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Finally, Truist Financial lifted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $199.50.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction dated 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 sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 transaction of $1,057,752.92. Following the transaction, the executive vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 6,000 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 $1,177,680.00. Following the transaction, the senior vice president now directly owns 20,772 shares in the company, valued at $4,077,128.16. This trade represents 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 company insiders.

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.