Packaging Co. of America (NYSE:PKG) Updates Q4 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG - Get Free Report) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.470-2.470 for the period, compared to the consensus estimate of 2.400. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PKG. Citigroup increased their price objective 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 upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Finally, Truist Financial increased their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $216.00.

Packaging Co. of America Stock Performance

PKG stock traded down $2.44 during trading on Tuesday, hitting $216.66. 688,541 shares of the company traded hands, compared to its average volume of 596,378. 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 $143.82 and a 1 year high of $222.98. The stock's 50-day simple moving average is $209.69 and its 200 day simple moving average is $193.25. The company has a market cap of $19.46 billion, a PE ratio of 27.18, a P/E/G ratio of 4.33 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.02 billion. During the same period in the previous year, the business posted $2.31 EPS. The business's revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Packaging Co. of America will post 8.73 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's payout ratio is currently 62.74%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the 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 owns 25,539 shares in the company, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Charles J. Carter sold 5,389 shares of the business'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 $1,057,752.92. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the senior vice president now owns 20,772 shares of the company's stock, valued at $4,077,128.16. This 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.