KapStone Paper and Packaging Corporation (KS) Shares Gap Down After Earnings Miss

KapStone Paper and Packaging Corporation (NYSE:KS) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $24.63, but opened at $22.57. KapStone Paper and Packaging Corporation shares last traded at $22.07, with a volume of 2,634,209 shares trading hands.

The basic materials company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). The business had revenue of $868.42 million during the quarter, compared to the consensus estimate of $839.36 million. KapStone Paper and Packaging Corporation had a return on equity of 11.22% and a net margin of 2.29%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, September 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio (DPR) is presently 53.33%.

Several research analysts recently commented on the stock. Stephens assumed coverage on shares of KapStone Paper and Packaging Corporation in a report on Tuesday. They issued an “overweight” rating and a $28.00 price objective for the company. Zacks Investment Research raised shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $27.00 price objective on shares of KapStone Paper and Packaging Corporation in a report on Monday, August 21st. Vertical Research raised shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of KapStone Paper and Packaging Corporation in a report on Wednesday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $26.38.

A number of large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in KapStone Paper and Packaging Corporation by 25,123.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,297,750 shares of the basic materials company’s stock valued at $27,888,000 after purchasing an additional 1,292,605 shares during the period. Crossmark Global Holdings Inc. bought a new position in KapStone Paper and Packaging Corporation in the 3rd quarter valued at $438,000. Phocas Financial Corp. boosted its holdings in KapStone Paper and Packaging Corporation by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 334,005 shares of the basic materials company’s stock valued at $6,891,000 after purchasing an additional 14,902 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in KapStone Paper and Packaging Corporation in the 2nd quarter valued at $334,000. Finally, WINTON GROUP Ltd boosted its holdings in KapStone Paper and Packaging Corporation by 56.2% in the 2nd quarter. WINTON GROUP Ltd now owns 37,972 shares of the basic materials company’s stock valued at $783,000 after purchasing an additional 13,664 shares during the period. 83.89% of the stock is owned by hedge funds and other institutional investors.

The stock has a market capitalization of $2.11 billion, a PE ratio of 28.75 and a beta of 2.77. The company’s 50-day moving average is $22.51 and its 200 day moving average is $21.94.

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KapStone Paper and Packaging Corporation Company Profile

KapStone Paper and Packaging Corporation is a producer of containerboard and the kraft paper in North America. The Company operates through two segments: Paper and Packaging, and Distribution. The Paper and Packaging segment manufactures and sells a range of containerboard, corrugated products and specialty paper for industrial and consumer markets.

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