KeyCorp restated their hold rating on shares of Graphic Packaging Holding Company (NYSE:GPK) in a research report report published on Tuesday morning. KeyCorp also issued estimates for Graphic Packaging Holding’s Q4 2017 earnings at $0.24 EPS, FY2017 earnings at $0.71 EPS and FY2018 earnings at $0.82 EPS.
“We are raising our estimates for Graphic Packaging (GPK) on account of its recent acquisition of Norgraft Packaging, S.A. (which will contribute ~$4M-$5M of EBITDA in 2018 by our estimate) and the historic decline in U.S. OCC prices in October (we are inclined to attribute the recent strength in the stock to the weakness in OCC prices). Key Investment Points As a result of these two factors, our 4Q17 (and thus 2017) adj. EBITDA estimate is increasing by $13M and our 2018 estimate is increasing by the same $13M. GPK’s average fiber cost is down ~$45/ton since July, and given that GPK buys ~1 million tons of recycled fiber per year, the annualized benefit is $45 million.”,” KeyCorp’s analyst commented.
A number of other research analysts also recently weighed in on GPK. Royal Bank Of Canada reissued a buy rating and issued a $15.00 target price on shares of Graphic Packaging Holding in a report on Tuesday. BidaskClub raised Graphic Packaging Holding from a sell rating to a hold rating in a report on Saturday, August 12th. Jefferies Group LLC reissued a hold rating and issued a $14.00 target price on shares of Graphic Packaging Holding in a report on Wednesday, June 14th. Zacks Investment Research raised Graphic Packaging Holding from a sell rating to a hold rating in a report on Friday, August 18th. Finally, DA Davidson reissued a buy rating and issued a $16.50 target price (down previously from $17.50) on shares of Graphic Packaging Holding in a report on Monday, August 21st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Graphic Packaging Holding presently has a consensus rating of Buy and an average target price of $15.60.
Graphic Packaging Holding (NYSE:GPK) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Graphic Packaging Holding had a return on equity of 18.22% and a net margin of 3.98%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.19 earnings per share. Graphic Packaging Holding’s revenue was down .8% compared to the same quarter last year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, September 14th. Graphic Packaging Holding’s dividend payout ratio (DPR) is 54.55%.
Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Graphic Packaging Holding by 1.6% during the 2nd quarter. Van ECK Associates Corp now owns 7,630 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 117 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Graphic Packaging Holding by 0.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 8,100 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 61 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Graphic Packaging Holding by 124.0% during the 1st quarter. Fifth Third Bancorp now owns 10,082 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 5,582 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of Graphic Packaging Holding during the 1st quarter worth approximately $140,000. Finally, Eagle Boston Investment Management Inc. lifted its stake in shares of Graphic Packaging Holding by 1.5% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 10,773 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
Graphic Packaging Holding Company Profile
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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