Brokerages Anticipate Packaging Corp Of America (NYSE:PKG) Will Post Quarterly Sales of $1.77 Billion

Equities research analysts expect that Packaging Corp Of America (NYSE:PKG) will report sales of $1.77 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Packaging Corp Of America’s earnings, with estimates ranging from $1.75 billion to $1.79 billion. Packaging Corp Of America reported sales of $1.81 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.2%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 23rd.

On average, analysts expect that Packaging Corp Of America will report full year sales of $6.99 billion for the current year, with estimates ranging from $6.94 billion to $7.04 billion. For the next financial year, analysts forecast that the firm will report sales of $6.90 billion, with estimates ranging from $6.77 billion to $7.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share for the quarter, hitting the consensus estimate of $2.04. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. Packaging Corp Of America’s quarterly revenue was down .4% on a year-over-year basis.

A number of research analysts have weighed in on PKG shares. Zacks Investment Research cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $109.00 price objective on the stock. in a research report on Wednesday, September 25th. KeyCorp cut shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective on the stock. in a research report on Monday, July 15th. UBS Group set a $106.00 price objective on shares of Packaging Corp Of America and gave the company a “buy” rating in a research report on Monday, June 24th. Seaport Global Securities cut shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective on the stock. in a research report on Friday, July 12th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Packaging Corp Of America presently has an average rating of “Hold” and a consensus price target of $101.37.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total transaction of $601,020.00. Following the completion of the sale, the senior vice president now directly owns 34,118 shares of the company’s stock, valued at $3,417,600.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Donald R. Shirley sold 5,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the sale, the senior vice president now directly owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cypress Capital Group acquired a new position in shares of Packaging Corp Of America during the third quarter valued at about $293,000. Pacer Advisors Inc. increased its holdings in shares of Packaging Corp Of America by 9.4% during the third quarter. Pacer Advisors Inc. now owns 9,751 shares of the industrial products company’s stock valued at $1,035,000 after acquiring an additional 837 shares in the last quarter. Norman Fields Gottscho Capital Management LLC increased its holdings in shares of Packaging Corp Of America by 33.4% during the third quarter. Norman Fields Gottscho Capital Management LLC now owns 45,710 shares of the industrial products company’s stock valued at $4,850,000 after acquiring an additional 11,435 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of Packaging Corp Of America by 0.9% during the third quarter. Gulf International Bank UK Ltd now owns 20,146 shares of the industrial products company’s stock valued at $2,137,000 after acquiring an additional 180 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in shares of Packaging Corp Of America during the third quarter valued at about $419,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

PKG stock traded up $3.31 during mid-day trading on Friday, reaching $109.34. 74,850 shares of the stock traded hands, compared to its average volume of 735,189. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.18 and a current ratio of 3.29. Packaging Corp Of America has a one year low of $77.90 and a one year high of $109.36. The stock has a market capitalization of $9.67 billion, a PE ratio of 13.62, a PEG ratio of 2.65 and a beta of 1.71. The business has a 50-day moving average price of $102.61 and a two-hundred day moving average price of $99.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, September 12th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.

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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