Packaging Co. of America (NYSE:PKG) Issues Earnings Results

Packaging Co. of America (NYSE:PKG) released its earnings results on Tuesday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09, Briefing.com reports. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS.

Packaging Co. of America Trading Down 1.7 %

Shares of Packaging Co. of America stock traded down $3.04 during trading on Thursday, reaching $170.88. 128,874 shares of the company were exchanged, compared to its average volume of 693,694. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The business has a 50-day moving average price of $181.56 and a 200-day moving average price of $168.02. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 4.15 and a beta of 0.78.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.93%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock valued at $6,799,177. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $191.00 in a research report on Wednesday. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $173.86.

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.