Q3 2024 Earnings Forecast for Packaging Co. of America (NYSE:PKG) Issued By Zacks Research

Packaging Co. of America (NYSE:PKG) – Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for shares of Packaging Co. of America in a report released on Tuesday, August 6th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $2.45 per share for the quarter, up from their prior forecast of $2.21. The consensus estimate for Packaging Co. of America’s current full-year earnings is $8.62 per share. Zacks Research also issued estimates for Packaging Co. of America’s Q4 2024 earnings at $2.21 EPS, FY2024 earnings at $8.59 EPS, Q2 2025 earnings at $2.46 EPS, Q3 2025 earnings at $2.46 EPS, Q4 2025 earnings at $2.37 EPS, FY2025 earnings at $9.30 EPS, Q1 2026 earnings at $2.50 EPS, Q2 2026 earnings at $2.62 EPS and FY2026 earnings at $10.41 EPS.

Several other equities research analysts have also commented on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial boosted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a research report on Friday, April 12th. Citigroup increased their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Finally, Bank of America lifted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.50.

Packaging Co. of America Stock Down 1.4 %

Shares of PKG traded down $2.70 during midday trading on Thursday, reaching $194.07. 451,514 shares of the stock were exchanged, compared to its average volume of 624,949. The company has a market capitalization of $17.43 billion, a P/E ratio of 24.26, a PEG ratio of 5.18 and a beta of 0.77. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $201.99. The company’s 50 day moving average is $187.54 and its two-hundred day moving average is $181.48.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share.

Insider Buying and Selling

In related news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. raised its holdings in shares of Packaging Co. of America by 1.4% during the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in 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 valued at $1,773,000 after purchasing an additional 56 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Packaging Co. of America by 2.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after buying an additional 59 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its stake in shares of Packaging Co. of America by 22.4% in the second quarter. Deseret Mutual Benefit Administrators now owns 322 shares of the industrial products company’s stock worth $59,000 after buying an additional 59 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

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.