Packaging Co. of America (NYSE:PKG) Posts Earnings Results, Beats Estimates By $0.09 EPS

Packaging Co. of America (NYSE:PKG) released its quarterly earnings results on Tuesday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $172.87 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The stock has a market cap of $15.52 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78. The stock has a 50-day moving average of $181.56 and a 200-day moving average of $168.02. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PKG shares. Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $187.00 to $191.00 in a report on Wednesday. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $202.00 in a report on Monday, March 4th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Citigroup boosted their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $173.86.

Insider Activity

In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 in the last ninety days. 1.60% of the stock is owned by insiders.

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.