DA Davidson Comments on Packaging Corp Of America’s Q3 2019 Earnings (PKG)

Packaging Corp Of America (NYSE:PKG) – Investment analysts at DA Davidson dropped their Q3 2019 earnings per share (EPS) estimates for shares of Packaging Corp Of America in a report issued on Friday, April 26th. DA Davidson analyst S. Chercover now expects that the industrial products company will post earnings of $2.16 per share for the quarter, down from their prior forecast of $2.44. DA Davidson also issued estimates for Packaging Corp Of America’s Q4 2019 earnings at $2.04 EPS and FY2020 earnings at $8.76 EPS.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Packaging Corp Of America had a return on equity of 31.67% and a net margin of 11.12%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS.

PKG has been the subject of several other reports. Bank of America lowered Packaging Corp Of America from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Citigroup reduced their price target on Packaging Corp Of America from $98.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, January 7th. Wells Fargo & Co lowered Packaging Corp Of America from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $110.00 to $93.00 in a report on Wednesday, January 9th. Finally, ValuEngine lowered Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $102.00.

Shares of Packaging Corp Of America stock opened at $99.20 on Monday. The stock has a market cap of $9.37 billion, a PE ratio of 12.35, a PEG ratio of 2.38 and a beta of 1.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.05 and a quick ratio of 1.90. Packaging Corp Of America has a 52-week low of $77.90 and a 52-week high of $124.70.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.79 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.16 annualized dividend and a yield of 3.19%. Packaging Corp Of America’s dividend payout ratio (DPR) is currently 39.35%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rowland & Co. Investment Counsel ADV lifted its holdings in Packaging Corp Of America by 3.4% in the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 3,358 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 110 shares during the last quarter. First Hawaiian Bank lifted its holdings in Packaging Corp Of America by 5.2% in the 4th quarter. First Hawaiian Bank now owns 2,438 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 120 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in Packaging Corp Of America by 73.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 127 shares during the last quarter. Financial Architects Inc lifted its holdings in Packaging Corp Of America by 27.4% in the 4th quarter. Financial Architects Inc now owns 628 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 135 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its holdings in Packaging Corp Of America by 4.6% in the 1st quarter. Wright Investors Service Inc. now owns 3,499 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.

About Packaging Corp Of America

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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