Brokerages expect Graphic Packaging Holding (NYSE:GPK) to report $1.57 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Graphic Packaging’s earnings, with estimates ranging from $1.54 billion to $1.61 billion. Graphic Packaging posted sales of $1.09 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 44%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Graphic Packaging will report full year sales of $6.22 billion for the current year, with estimates ranging from $6.14 billion to $6.33 billion. For the next fiscal year, analysts forecast that the business will report sales of $6.37 billion per share, with estimates ranging from $6.25 billion to $6.56 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Graphic Packaging.
Graphic Packaging (NYSE:GPK) last issued its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. Graphic Packaging had a net margin of 6.08% and a return on equity of 14.94%. Graphic Packaging’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS.
GPK has been the subject of several research reports. Zacks Investment Research lowered shares of Graphic Packaging from a “hold” rating to a “sell” rating in a research note on Friday, March 16th. BMO Capital Markets decreased their price target on shares of Graphic Packaging from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Citigroup decreased their price target on shares of Graphic Packaging from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, April 5th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $19.00 price target on shares of Graphic Packaging in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.44.
Shares of Graphic Packaging stock opened at $14.22 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.82 and a quick ratio of 0.86. The stock has a market capitalization of $4.30 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 3.16 and a beta of 1.17. Graphic Packaging has a 1 year low of $12.65 and a 1 year high of $16.74.
In related news, SVP Joseph P. Yost sold 50,000 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the sale, the senior vice president now directly owns 306,926 shares of the company’s stock, valued at approximately $4,603,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph P. Yost sold 15,137 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $15.60, for a total transaction of $236,137.20. Following the sale, the senior vice president now directly owns 343,472 shares in the company, valued at $5,358,163.20. The disclosure for this sale can be found here. Insiders have sold a total of 215,137 shares of company stock worth $3,311,137 over the last three months. 0.62% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Cortina Asset Management LLC grew its position in Graphic Packaging by 28.1% during the 1st quarter. Cortina Asset Management LLC now owns 241,013 shares of the industrial products company’s stock valued at $3,700,000 after purchasing an additional 52,882 shares during the last quarter. Citadel Advisors LLC grew its position in Graphic Packaging by 290.3% during the 1st quarter. Citadel Advisors LLC now owns 8,112,097 shares of the industrial products company’s stock valued at $124,521,000 after purchasing an additional 6,033,865 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Graphic Packaging during the 1st quarter valued at about $254,000. BNP Paribas Arbitrage SA grew its position in Graphic Packaging by 14.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 139,822 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 17,626 shares during the last quarter. Finally, Citigroup Inc. grew its position in Graphic Packaging by 163.7% during the 1st quarter. Citigroup Inc. now owns 148,106 shares of the industrial products company’s stock valued at $2,274,000 after purchasing an additional 91,941 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.
About Graphic Packaging
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK) and coated recycled paperboard (CRB) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons primarily to consumer packaged goods companies.
Get a free copy of the Zacks research report on Graphic Packaging (GPK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Graphic Packaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graphic Packaging and related companies with MarketBeat.com's FREE daily email newsletter.