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

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

Packaging Co. of America Price Performance

Shares of PKG stock opened at $173.92 on Thursday. The stock’s fifty day simple moving average is $181.56 and its 200 day simple moving average is $168.02. 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 firm has a market cap of $15.61 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 4.15 and a beta of 0.78. 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. Investors of record on Friday, March 15th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.87%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is 62.50%.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock valued at $6,799,177 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PKG. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $187.00 to $191.00 in a research note on Wednesday. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Citigroup raised their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Truist Financial raised their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $173.86.

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.