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

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

Packaging Co. of America Stock Up 5.5 %

PKG stock opened at $228.65 on Thursday. The business’s 50-day moving average is $210.82 and its two-hundred day moving average is $193.70. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 4.33 and a beta of 0.77. Packaging Co. of America has a fifty-two week low of $145.02 and a fifty-two week high of $231.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.74%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of 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. Truist Financial lifted their target price on Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $216.00.

About Packaging Co. of America

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.