Packaging Co. of America (NYSE:PKG) Releases Q4 2024 Earnings Guidance

Packaging Co. of America (NYSE:PKG) 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.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded up $0.06 during mid-day trading on Friday, reaching $227.57. 11,529 shares of the stock were exchanged, compared to its average volume of 596,706. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $231.30. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a 50-day simple moving average of $211.45 and a 200 day simple moving average of $193.93.

Packaging Co. of America (NYSE:PKG) 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.