Packaging Corp. of America (NYSE:PKG) will post its Q316 quarterly earnings results on Wednesday, October 19th. Analysts expect Packaging Corp. of America to post earnings of $1.31 per share and revenue of $559.20 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Packaging Corp. of America (NYSE:PKG) last released its earnings results on Thursday, July 21st. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.07. The firm earned $1.42 billion during the quarter, compared to analyst estimates of $1.46 billion. Packaging Corp. of America had a net margin of 7.95% and a return on equity of 27.74%. The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 EPS. On average, analysts expect Packaging Corp. of America to post $4.84 EPS for the current fiscal year and $5.69 EPS for the next fiscal year.
Packaging Corp. of America (NYSE:PKG) opened at 82.60 on Monday. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 17.55 and a beta of 1.76. Packaging Corp. of America has a 52-week low of $44.32 and a 52-week high of $83.13. The firm’s 50-day moving average is $80.46 and its 200-day moving average is $71.35.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Thursday, September 15th were given a dividend of $0.63 per share. This is an increase from Packaging Corp. of America’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, September 13th. This represents a $2.52 annualized dividend and a dividend yield of 3.05%. Packaging Corp. of America’s dividend payout ratio is currently 53.62%.
Several equities research analysts have recently issued reports on PKG shares. Credit Agricole SA increased their price objective on shares of Packaging Corp. of America from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Jefferies Group reissued a “buy” rating on shares of Packaging Corp. of America in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded shares of Packaging Corp. of America from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. started coverage on shares of Packaging Corp. of America in a research report on Thursday, September 22nd. They set a “sell” rating and a $77.00 price objective for the company. Finally, Deutsche Bank AG increased their price objective on shares of Packaging Corp. of America from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $78.46.
In other news, SVP Kent A. Pflederer sold 1,100 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $74.30, for a total transaction of $81,730.00. Following the completion of the sale, the senior vice president now owns 34,623 shares in the company, valued at approximately $2,572,488.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of PKG. Seven Eight Capital LLC bought a new stake in Packaging Corp. of America during the second quarter worth about $120,000. Van ECK Associates Corp boosted its stake in Packaging Corp. of America by 13.6% in the second quarter. Van ECK Associates Corp now owns 2,528 shares of the company’s stock worth $169,000 after buying an additional 302 shares in the last quarter. Veritable L.P. bought a new stake in Packaging Corp. of America during the second quarter worth about $204,000. Sawtooth Asset Management Inc. bought a new stake in Packaging Corp. of America during the second quarter worth about $211,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Packaging Corp. of America by 573.8% in the second quarter. Cubist Systematic Strategies LLC now owns 3,834 shares of the company’s stock worth $257,000 after buying an additional 3,265 shares in the last quarter. Institutional investors own 86.87% of the company’s stock.
Packaging Corp. of America Company Profile
Packaging Corporation of America (PCA) is a producer of containerboard and corrugated packaging products, and uncoated free sheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Company operates over eight mills and approximately 90 corrugated products manufacturing plants.
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