Graphic Packaging (NYSE:GPK) Announces Earnings Results

Graphic Packaging (NYSE:GPK) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04, Briefing.com reports. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the business posted $0.66 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Graphic Packaging updated its FY24 guidance to $2.65-2.85 EPS and its FY 2024 guidance to 2.650-2.850 EPS.

Graphic Packaging Stock Performance

Shares of GPK traded down $0.55 during mid-day trading on Thursday, reaching $29.55. 2,777,214 shares of the company’s stock were exchanged, compared to its average volume of 2,718,982. The business’s fifty day simple moving average is $27.32 and its 200-day simple moving average is $27.03. The stock has a market capitalization of $9.08 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 10.59 and a beta of 0.85. Graphic Packaging has a 52-week low of $20.07 and a 52-week high of $30.66. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.52.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Saturday, June 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, June 14th. Graphic Packaging’s dividend payout ratio is currently 18.10%.

Analyst Ratings Changes

GPK has been the subject of several analyst reports. Robert W. Baird boosted their price target on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus started coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They set a “buy” rating and a $35.20 target price for the company. Truist Financial restated a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of Graphic Packaging in a research note on Wednesday. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada raised their target price on Graphic Packaging from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Graphic Packaging has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

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.