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

Packaging Co. of America (NYSE:PKG) issued 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 company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 EPS. Packaging Co. of America updated its Q4 2024 guidance to 2.470-2.470 EPS.

Packaging Co. of America Trading Down 0.2 %

Shares of PKG traded down $0.49 during trading hours on Thursday, reaching $228.16. 24,756 shares of the company traded hands, compared to its average volume of 596,042. The company’s fifty day moving average price is $210.82 and its two-hundred day moving average price is $193.70. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 28.69, 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 12 month low of $147.25 and a 12 month high of $231.30.

Packaging Co. of America Dividend Announcement

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 2.19%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is 62.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. 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 boosted their price objective on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.00.

About Packaging Co. of America

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.