Analysts Anticipate Packaging Corp Of America (PKG) Will Post Earnings of $1.51 Per Share

Wall Street analysts predict that Packaging Corp Of America (NYSE:PKG) will announce earnings per share of $1.51 for the current quarter, Zacks reports. Four analysts have provided estimates for Packaging Corp Of America’s earnings, with the highest EPS estimate coming in at $1.53 and the lowest estimate coming in at $1.50. Packaging Corp Of America posted earnings of $1.23 per share during the same quarter last year, which would indicate a positive year over year growth rate of 22.8%. The company is expected to announce its next earnings results on Monday, January 29th.

On average, analysts expect that Packaging Corp Of America will report full year earnings of $5.99 per share for the current fiscal year, with EPS estimates ranging from $5.97 to $6.01. For the next financial year, analysts forecast that the firm will report earnings of $6.67 per share, with EPS estimates ranging from $6.43 to $6.89. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a net margin of 8.18% and a return on equity of 29.38%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year.

Several research firms recently commented on PKG. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Sunday. Stephens assumed coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price objective for the company. Barclays upped their price objective on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. Finally, KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $117.36.

Shares of Packaging Corp Of America (PKG) opened at $123.61 on Wednesday. Packaging Corp Of America has a 12-month low of $84.01 and a 12-month high of $123.78. The company has a market cap of $11,373.95, a price-to-earnings ratio of 22.89, a P/E/G ratio of 2.17 and a beta of 1.82. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, December 26th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. Packaging Corp Of America’s payout ratio is currently 46.67%.

In other news, SVP Charles J. Carter sold 6,150 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $117.04, for a total value of $719,796.00. Following the completion of the transaction, the senior vice president now owns 24,265 shares in the company, valued at approximately $2,839,975.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas W.H. Walton sold 6,027 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the transaction, the senior vice president now owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,177 shares of company stock valued at $1,427,532. 1.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PKG. Toronto Dominion Bank increased its holdings in shares of Packaging Corp Of America by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 128 shares in the last quarter. Advantage Investment Management LLC purchased a new position in shares of Packaging Corp Of America in the 3rd quarter valued at about $137,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Packaging Corp Of America by 84.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 665 shares in the last quarter. Perpetual Ltd purchased a new position in shares of Packaging Corp Of America in the 2nd quarter valued at about $201,000. Finally, Simmons Bank purchased a new position in shares of Packaging Corp Of America in the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

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Packaging Corp Of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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