Ranpak (NYSE:PACK) Posts Earnings Results, Misses Estimates By $0.06 EPS

Ranpak (NYSE:PACK) released its earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06), Briefing.com reports. The firm had revenue of $92.20 million during the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share.

Ranpak Stock Performance

Shares of PACK stock traded up $0.03 during trading hours on Friday, hitting $6.11. The stock had a trading volume of 353,354 shares, compared to its average volume of 465,646. The stock’s 50 day moving average is $6.34 and its 200 day moving average is $6.62. The firm has a market capitalization of $508.47 million, a PE ratio of -35.11 and a beta of 2.36. Ranpak has a twelve month low of $2.70 and a twelve month high of $9.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.52 and a quick ratio of 2.07.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday. Baird R W lowered shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.