Graphic Packaging (NYSE:GPK) Issues Earnings Results

Graphic Packaging (NYSE:GPK) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04), Briefing.com reports. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. Graphic Packaging updated its FY24 guidance to $2.49-2.61 EPS.

Graphic Packaging Stock Performance

Shares of NYSE:GPK opened at $28.26 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The business’s fifty day moving average price is $29.42 and its two-hundred day moving average price is $28.18. Graphic Packaging has a fifty-two week low of $21.08 and a fifty-two week high of $30.70. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 10.94 and a beta of 0.83.

Analyst Ratings Changes

A number of brokerages have weighed in on GPK. Truist Financial downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating and reduced their price target for the company from $32.00 to $30.00 in a report on Wednesday. Wells Fargo & Company lifted their target price on Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird lifted their price objective on Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada cut their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Graphic Packaging presently has a consensus rating of “Hold” and a consensus price target of $31.53.

Insider Buying and Selling at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares in the company, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Michael P. Doss sold 86,374 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $28.05, for a total value of $2,422,790.70. Following the transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.91, for a total value of $1,372,697.53. Following the completion of the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at approximately $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.