Zacks Research Analysts Raise Earnings Estimates for Packaging Co. of America (NYSE:PKG)

by · The Cerbat Gem

Packaging Co. of America (NYSE:PKG – Free Report) – Equities researchers at Zacks Research upped their FY2024 earnings per share estimates for shares of Packaging Co. of America in a research note issued on Monday, September 30th. Zacks Research analyst M. Das now expects that the industrial products company will earn $8.68 per share for the year, up from their prior forecast 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.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Bank of America increased their price target 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. Truist Financial boosted their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup boosted their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $196.17.

Get Our Latest Report on PKG

Packaging Co. of America Trading Up 0.7 %

Shares of NYSE PKG opened at $213.42 on Thursday. The firm has a 50 day moving average price of $204.50 and a two-hundred day moving average price of $190.55. The stock has a market cap of $19.17 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG – Get Free Report) last issued 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 firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate 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 revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PKG. Register Financial Advisors LLC purchased a new stake in Packaging Co. of America in the first quarter worth approximately $25,000. Neo Ivy Capital Management purchased a new position in Packaging Co. of America in the 4th quarter worth $28,000. Asset Dedication LLC boosted its position in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the third quarter valued at about $32,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of Packaging Co. of America in the second quarter worth about $33,000. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction dated 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 transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

About Packaging Co. of America

(Get Free Report)

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.

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