$2.15 EPS Expected for Packaging Corp Of America (PKG) This Quarter

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Wall Street analysts expect that Packaging Corp Of America (NYSE:PKG) will announce $2.15 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Packaging Corp Of America’s earnings, with the highest EPS estimate coming in at $2.16 and the lowest estimate coming in at $2.14. Packaging Corp Of America reported earnings per share of $1.68 in the same quarter last year, which would suggest a positive year over year growth rate of 28%. The company is expected to announce its next quarterly earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Packaging Corp Of America will report full-year earnings of $7.94 per share for the current financial year, with EPS estimates ranging from $7.85 to $8.15. For the next fiscal year, analysts forecast that the firm will post earnings of $8.96 per share, with EPS estimates ranging from $8.70 to $9.52. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.11. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share.

PKG has been the subject of several analyst reports. Stephens restated a “buy” rating on shares of Packaging Corp Of America in a research note on Thursday, July 5th. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Tuesday, June 26th. Barclays decreased their target price on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 30th. ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Wells Fargo & Co decreased their target price on shares of Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating for the company in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $130.22.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Certified Advisory Corp bought a new position in Packaging Corp Of America during the 1st quarter valued at $101,000. Itau Unibanco Holding S.A. bought a new position in Packaging Corp Of America during the 2nd quarter valued at $125,000. Acadian Asset Management LLC bought a new position in Packaging Corp Of America during the 2nd quarter valued at $155,000. Flagship Harbor Advisors LLC bought a new position in Packaging Corp Of America during the 2nd quarter valued at $165,000. Finally, Global X Management Co. LLC bought a new position in Packaging Corp Of America during the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Shares of PKG stock traded up $2.50 on Friday, hitting $111.75. The stock had a trading volume of 767,400 shares, compared to its average volume of 752,999. The company has a market capitalization of $10.39 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.66 and a beta of 1.79. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05. Packaging Corp Of America has a 52-week low of $107.39 and a 52-week high of $131.13.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.83%. Packaging Corp Of America’s dividend payout ratio (DPR) is 52.49%.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Earnings History and Estimates for Packaging Corp Of America (NYSE:PKG)

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