Packaging Co. of America (NYSE:PKG – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.470-2.470 for the period, compared to the consensus EPS estimate of 2.400. The company issued revenue guidance of -.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on PKG. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup lifted their target price 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 reissued a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday. Finally, Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $221.60.
View Our Latest Stock Analysis on PKG
Packaging Co. of America Price Performance
Packaging Co. of America (NYSE:PKG – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts predict that Packaging Co. of America will post 8.77 EPS for the current fiscal year.
Packaging Co. of America Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 62.50%.
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.
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