FY2024 EPS Estimates for Packaging Co. of America (NYSE:PKG) Increased by Analyst

Packaging Co. of America (NYSE:PKG) – Zacks Research boosted their FY2024 earnings per share estimates for shares of Packaging Co. of America in a note issued to investors on Monday, September 30th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $8.68 per share for the year, up from their prior estimate of $8.65. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.72 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q1 2025 earnings at $2.01 EPS, Q2 2025 earnings at $2.62 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $2.70 EPS, Q1 2026 earnings at $2.65 EPS, Q2 2026 earnings at $2.91 EPS and FY2026 earnings at $11.21 EPS.

A number of other research firms have also weighed in on PKG. Citigroup lifted 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. Bank of America boosted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Truist Financial boosted their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and a consensus target price of $196.17.

Packaging Co. of America Stock Down 0.4 %

PKG stock opened at $211.98 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $19.04 billion, a PE ratio of 26.50, a PEG ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The stock has a 50-day simple moving average of $204.15 and a two-hundred day simple moving average of $190.40.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In other Packaging Co. of America news, 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 completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America 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 value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Packaging Co. of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Czech National Bank raised its holdings in shares of Packaging Co. of America by 6.9% during the third quarter. Czech National Bank now owns 18,163 shares of the industrial products company’s stock valued at $3,912,000 after acquiring an additional 1,176 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the third quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Packaging Co. of America by 5.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,461 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 69 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Packaging Co. of America by 329.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 464 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 356 shares in the last quarter. Finally, Cim LLC raised its holdings in Packaging Co. of America by 4.1% in the second quarter. Cim LLC now owns 11,975 shares of the industrial products company’s stock worth $2,186,000 after purchasing an additional 467 shares in the last quarter. Institutional investors own 89.78% 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.