Graphic Packaging (NYSE:GPK) Issues FY24 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.49-2.61 for the period, compared to the consensus EPS estimate of $2.63.

Graphic Packaging Price Performance

NYSE GPK remained flat at $28.26 during trading on Thursday. The company’s stock had a trading volume of 7,656,287 shares, compared to its average volume of 2,589,367. The firm’s fifty day simple moving average is $29.41 and its 200 day simple moving average is $28.18. The firm has a market capitalization of $8.68 billion, a PE ratio of 12.72, a P/E/G ratio of 10.94 and a beta of 0.83. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Graphic Packaging has a 1 year low of $21.08 and a 1 year high of $30.70.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. Graphic Packaging’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. On average, analysts forecast that Graphic Packaging will post 2.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GPK has been the topic of a number of recent analyst reports. StockNews.com downgraded Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial downgraded Graphic Packaging from a “buy” rating to a “hold” rating and decreased their target price for the company from $32.00 to $30.00 in a research report on Wednesday. Citigroup decreased their target price on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Royal Bank of Canada decreased their target price on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their target price on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.53.

Insider Activity at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,909,576 shares in the company, valued at approximately $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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 directly owns 1,909,576 shares in the company, valued at $53,296,266.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 2,123,202 shares of the company’s stock, valued at $59,555,816.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

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.