Packaging Co. of America (NYSE:PKG) Releases Earnings Results, Beats Expectations By $0.09 EPS

Packaging Co. of America (NYSE:PKG) released its quarterly earnings data on Tuesday. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company earned $2.20 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $172.87 on Thursday. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $181.56 and a 200-day moving average of $168.02. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 4.15 and a beta of 0.78.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.89%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock worth $6,799,177 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PKG has been the topic of a number of analyst reports. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $191.00 in a research note on Wednesday. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Citigroup raised their target price on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America has a consensus rating of “Hold” and a consensus price target of $173.86.

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.