Graphic Packaging (NYSE:GPK) Releases FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.650-2.850 for the period, compared to the consensus earnings per share estimate of 2.690. The company issued revenue guidance of -.

Analyst Ratings Changes

Several brokerages recently issued reports on GPK. Robert W. Baird upped their target price on shares of Graphic Packaging from $28.00 to $30.00 and gave the stock an outperform rating in a research report on Thursday, February 22nd. Citigroup upped their price objective on shares of Graphic Packaging from $32.00 to $34.00 and gave the company a buy rating in a research note on Thursday, April 4th. StockNews.com downgraded shares of Graphic Packaging from a buy rating to a hold rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company reissued an underweight rating and issued a $21.00 price target on shares of Graphic Packaging in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $28.44.

Graphic Packaging Stock Up 3.0 %

GPK traded up $0.79 during midday trading on Thursday, reaching $26.83. The company’s stock had a trading volume of 1,938,555 shares, compared to its average volume of 2,867,297. The stock’s 50-day moving average is $27.51 and its 200-day moving average is $25.05. Graphic Packaging has a 1 year low of $20.07 and a 1 year high of $29.50. The company has a current ratio of 1.24, a quick ratio of 0.42 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 11.78 and a beta of 0.86.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Graphic Packaging had a net margin of 7.36% and a return on equity of 32.55%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. As a group, research analysts expect that Graphic Packaging will post 2.7 EPS for the current year.

Graphic Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 1.49%. Graphic Packaging’s dividend payout ratio (DPR) is 18.10%.

Insider Activity at Graphic Packaging

In related news, EVP Joseph P. Yost sold 70,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the transaction, the executive vice president now owns 205,231 shares in the company, valued at $5,377,052.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.