Zacks: Brokerages Expect Packaging Corp Of America (PKG) Will Post Earnings of $2.15 Per Share

Equities analysts expect Packaging Corp Of America (NYSE:PKG) to post earnings of $2.15 per share for the current quarter, according to Zacks. Four analysts have made estimates for Packaging Corp Of America’s earnings. The lowest EPS estimate is $2.14 and the highest is $2.16. Packaging Corp Of America reported earnings of $1.68 per share during the same quarter last year, which would indicate a positive year over year growth rate of 28%. The firm is expected to report its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Packaging Corp Of America will report full-year earnings of $7.90 per share for the current financial year, with EPS estimates ranging from $7.85 to $7.95. For the next year, analysts expect that the firm will post earnings of $8.88 per share, with EPS estimates ranging from $8.70 to $9.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year.

PKG has been the topic of several research analyst reports. Stephens restated a “buy” rating on shares of Packaging Corp Of America in a research report on Thursday, July 5th. Zacks Investment Research upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Tuesday, June 26th. Barclays cut their target price on Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 30th. ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Wells Fargo & Co cut their target price on Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating on the stock in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Packaging Corp Of America currently has an average rating of “Hold” and an average price target of $130.22.

Shares of Packaging Corp Of America stock opened at $117.78 on Monday. Packaging Corp Of America has a one year low of $107.39 and a one year high of $131.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73. The stock has a market cap of $11.00 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.77 and a beta of 1.78.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.16 annualized dividend and a yield of 2.68%. Packaging Corp Of America’s payout ratio is currently 52.49%.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Packaging Corp Of America by 10.1% in the second quarter. BlackRock Inc. now owns 9,488,674 shares of the industrial products company’s stock worth $1,060,741,000 after acquiring an additional 872,739 shares in the last quarter. FMR LLC boosted its holdings in Packaging Corp Of America by 222.9% in the second quarter. FMR LLC now owns 3,050,688 shares of the industrial products company’s stock worth $341,036,000 after acquiring an additional 2,105,782 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Packaging Corp Of America by 3.5% in the second quarter. Victory Capital Management Inc. now owns 1,634,214 shares of the industrial products company’s stock worth $182,689,000 after acquiring an additional 54,599 shares in the last quarter. Iridian Asset Management LLC CT boosted its holdings in Packaging Corp Of America by 19.0% in the second quarter. Iridian Asset Management LLC CT now owns 1,588,384 shares of the industrial products company’s stock worth $177,565,000 after acquiring an additional 253,520 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Packaging Corp Of America by 76.5% in the first quarter. Millennium Management LLC now owns 1,113,306 shares of the industrial products company’s stock worth $125,470,000 after acquiring an additional 482,533 shares in the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Earnings History and Estimates for Packaging Corp Of America (NYSE:PKG)

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