Packaging Co. of America (NYSE:PKG) Posts Earnings Results, Beats Expectations By $0.15 EPS

Packaging Co. of America (NYSE:PKG) announced its earnings results on Tuesday. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15, Yahoo Finance reports. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. Packaging Co. of America updated its Q4 2024 guidance to 2.470-2.470 EPS.

Packaging Co. of America Price Performance

Shares of NYSE PKG traded up $10.87 during trading on Wednesday, hitting $227.53. 78,702 shares of the company were exchanged, compared to its average volume of 593,854. The firm’s fifty day moving average price is $210.13 and its 200 day moving average price is $193.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 4.33 and a beta of 0.77. Packaging Co. of America has a 1 year low of $145.02 and a 1 year high of $229.91.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.74%.

Wall Street Analysts Forecast Growth

PKG has been the subject of several research reports. Citigroup upped their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Truist Financial increased their target price on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.00.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. 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.