Packaging Corporation of America (NYSE:PKG) Announces Earnings Results

Packaging Corporation of America (NYSE:PKG) posted its quarterly earnings data on Wednesday. The industrial products company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.11, Zacks reports. Packaging Corporation of America had a net margin of 7.25% and a return on equity of 18.94%.

Packaging Corporation of America Stock Performance

NYSE PKG traded up $0.14 during trading hours on Wednesday, hitting $239.06. 810,101 shares of the stock were exchanged, compared to its average volume of 802,290. The company has a quick ratio of 1.86, a current ratio of 2.94 and a debt-to-equity ratio of 0.85. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 2.03 and a beta of 0.75. Packaging Corporation of America has a 12-month low of $191.50 and a 12-month high of $259.98. The stock has a 50-day moving average of $237.69 and a 200 day moving average of $230.24.

Packaging Corporation of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. Packaging Corporation of America’s dividend payout ratio is presently 77.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PKG. UBS Group decreased their target price on shares of Packaging Corporation of America from $292.00 to $289.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Bank of America lowered their price target on Packaging Corporation of America from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Wells Fargo & Company dropped their price target on Packaging Corporation of America from $246.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. JPMorgan Chase & Co. upped their price objective on Packaging Corporation of America from $312.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, September 23rd. Finally, Citigroup reduced their price objective on Packaging Corporation of America from $254.00 to $253.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.86.

Insider Buying and Selling at Packaging Corporation of America

In other news, President Thomas A. Hassfurther sold 12,531 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $250.00, for a total value of $3,132,750.00. Following the completion of the transaction, the president owned 218,751 shares in the company, valued at $54,687,750. This trade represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald R. Shirley sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $250.71, for a total transaction of $3,008,520.00. Following the completion of the sale, the vice president owned 19,110 shares of the company’s stock, valued at $4,791,068.10. This trade represents a 38.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,391 shares of company stock valued at $10,196,101 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Packaging Corporation of America Company Profile

Packaging Corporation of America (NYSE:PKG) is a manufacturer of corrugated packaging and containerboard products serving businesses primarily in the United States. Its products include shipping boxes, retail packaging, displays, protective packaging and specialty corrugated solutions used to transport and present a broad range of consumer and industrial goods.

The company also produces uncoated freesheet paper and related paper products for commercial printing, office use, publishing, converting and other applications.