Equities research analysts expect that Packaging Corp Of America (NYSE:PKG) will report earnings of $2.15 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Packaging Corp Of America’s earnings, with the lowest EPS estimate coming in at $2.11 and the highest estimate coming in at $2.17. Packaging Corp Of America reported earnings of $1.56 per share during the same quarter last year, which would indicate a positive year over year growth rate of 37.8%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, January 29th.
On average, analysts expect that Packaging Corp Of America will report full year earnings of $8.02 per share for the current fiscal year, with EPS estimates ranging from $7.98 to $8.06. For the next year, analysts anticipate that the business will report earnings of $8.50 per share, with EPS estimates ranging from $7.50 to $8.90. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Packaging Corp Of America.
Several brokerages have recently weighed in on PKG. Seaport Global Securities began coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $112.00 price target for the company. BMO Capital Markets cut shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $130.00 to $108.00 in a research report on Tuesday, October 9th. ValuEngine cut shares of Packaging Corp Of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Citigroup decreased their target price on shares of Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, January 7th. Finally, KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Packaging Corp Of America has a consensus rating of “Hold” and an average price target of $108.10.
Large investors have recently bought and sold shares of the stock. Midas Management Corp purchased a new stake in Packaging Corp Of America during the third quarter valued at approximately $2,084,000. Aurora Investment Counsel acquired a new position in Packaging Corp Of America during the 3rd quarter valued at approximately $1,539,000. Hendley & Co. Inc. acquired a new position in Packaging Corp Of America during the 3rd quarter valued at approximately $1,482,000. Vident Investment Advisory LLC acquired a new position in Packaging Corp Of America during the 3rd quarter valued at approximately $262,000. Finally, Manning & Napier Group LLC increased its stake in Packaging Corp Of America by 13.8% during the 3rd quarter. Manning & Napier Group LLC now owns 18,243 shares of the industrial products company’s stock valued at $2,000,000 after purchasing an additional 2,216 shares in the last quarter. 86.81% of the stock is owned by institutional investors.
Shares of PKG traded down $1.45 during mid-day trading on Wednesday, hitting $92.82. The company’s stock had a trading volume of 66,556 shares, compared to its average volume of 808,024. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $131.13. The stock has a market capitalization of $8.91 billion, a PE ratio of 15.42, a PEG ratio of 1.33 and a beta of 1.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.74 and a current ratio of 2.76.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 17th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, December 14th. This represents a $3.16 dividend on an annualized basis and a yield of 3.40%. Packaging Corp Of America’s payout ratio 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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