Packaging Co. of America (NYSE:PKG) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Packaging Co. of America (NYSE:PKG) announced its earnings results on Tuesday. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15, Yahoo Finance reports. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. Packaging Co. of America updated its Q4 2024 guidance to 2.470-2.470 EPS.

Packaging Co. of America Trading Up 5.5 %

Packaging Co. of America stock opened at $228.65 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm’s 50 day moving average price is $210.82 and its 200-day moving average price is $193.70. Packaging Co. of America has a 1 year low of $145.02 and a 1 year high of $231.30. The stock has a market cap of $20.54 billion, a P/E ratio of 28.69, a PEG ratio of 4.33 and a beta of 0.77.

Packaging Co. of America Announces Dividend

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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.74%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PKG shares. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial lifted their price target on shares of Packaging Co. of America from $219.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $216.00.

About Packaging Co. of America

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.