Seaport Res Ptn Has Positive Estimate for PKG Q3 Earnings

Packaging Co. of America (NYSE:PKG) – Equities researchers at Seaport Res Ptn upped their Q3 2024 earnings estimates for Packaging Co. of America in a note issued to investors on Monday, October 21st. Seaport Res Ptn analyst M. Weintraub now anticipates that the industrial products company will post earnings of $2.55 per share for the quarter, up from their previous forecast of $2.50. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.77 per share. Seaport Res Ptn also issued estimates for Packaging Co. of America’s Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $8.85 EPS and FY2025 earnings at $11.00 EPS.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share.

A number of other brokerages have also commented on PKG. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. 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 report on Thursday. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup increased their price target on shares of 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. According to MarketBeat, Packaging Co. of America has an average rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $227.51 on Wednesday. The firm’s 50 day simple moving average is $211.45 and its 200 day simple moving average is $193.93. 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 market capitalization of $20.43 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a 1-year low of $147.25 and a 1-year high of $231.30.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PKG. Coldstream Capital Management Inc. increased its stake in shares of Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 54 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Packaging Co. of America by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Packaging Co. of America by 2.1% in the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Packaging Co. of America by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 57 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 59 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.20%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

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.