Q1 2024 EPS Estimates for Packaging Co. of America (NYSE:PKG) Decreased by Zacks Research

Packaging Co. of America (NYSE:PKGFree Report) – Equities researchers at Zacks Research decreased their Q1 2024 EPS estimates for Packaging Co. of America in a research report issued to clients and investors on Wednesday, February 7th. Zacks Research analyst M. Das now expects that the industrial products company will earn $1.66 per share for the quarter, down from their previous estimate of $1.69. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.17 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q3 2024 earnings at $2.17 EPS, Q4 2024 earnings at $2.03 EPS, FY2024 earnings at $7.80 EPS, Q2 2025 earnings at $2.17 EPS, Q3 2025 earnings at $2.21 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $8.53 EPS and FY2026 earnings at $9.62 EPS.

Packaging Co. of America (NYSE:PKGGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.47%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.35 earnings per share.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $147.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 30th. Jefferies Financial Group lowered their price target on shares of Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, October 18th. Citigroup raised their price target on shares of Packaging Co. of America from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Finally, Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and an average price target of $154.67.

View Our Latest Stock Analysis on Packaging Co. of America

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $168.33 on Friday. The stock has a market cap of $15.09 billion, a P/E ratio of 19.85, a P/E/G ratio of 4.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.17 and a quick ratio of 1.40. The company has a fifty day moving average price of $165.31 and a two-hundred day moving average price of $156.59. Packaging Co. of America has a one year low of $122.20 and a one year high of $176.96.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Monday, December 18th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $5.00 annualized dividend and a yield of 2.97%. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

Institutional Investors Weigh In On Packaging Co. of America

Several hedge funds have recently added to or reduced their stakes in PKG. Vanguard Group Inc. lifted its position in shares of Packaging Co. of America by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company’s stock worth $1,880,777,000 after purchasing an additional 161,559 shares during the period. BlackRock Inc. lifted its position in shares of Packaging Co. of America by 1.7% in the 1st quarter. BlackRock Inc. now owns 9,048,220 shares of the industrial products company’s stock worth $1,256,164,000 after purchasing an additional 151,624 shares during the period. State Street Corp increased its stake in shares of Packaging Co. of America by 0.5% in the 2nd quarter. State Street Corp now owns 4,631,016 shares of the industrial products company’s stock valued at $617,819,000 after acquiring an additional 23,232 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Packaging Co. of America by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after acquiring an additional 11,536 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Packaging Co. of America by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,071,622 shares of the industrial products company’s stock valued at $273,132,000 after acquiring an additional 5,630 shares in the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.

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 Packaging and Paper segments. 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.

See Also

Earnings History and Estimates for Packaging Co. of America (NYSE:PKG)

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