Packaging Corporation of America (NYSE:PKG) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of ~$1.68 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.66.
Several research firms recently commented on PKG. BidaskClub downgraded Packaging Corporation of America from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and set a $128.00 target price (up previously from $114.00) on shares of Packaging Corporation of America in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a sell rating to a neutral rating and raised their target price for the stock from $105.00 to $111.00 in a research report on Thursday, July 13th. Zacks Investment Research upgraded Packaging Corporation of America from a sell rating to a hold rating in a research report on Tuesday, July 11th. Finally, Wells Fargo & Company downgraded Packaging Corporation of America from an outperform rating to a market perform rating in a research report on Monday, July 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Packaging Corporation of America presently has a consensus rating of Buy and an average target price of $102.73.
Packaging Corporation of America (NYSE:PKG) traded up 1.61% during midday trading on Thursday, hitting $110.55. The stock had a trading volume of 1,473,014 shares. Packaging Corporation of America has a 1-year low of $73.34 and a 1-year high of $114.31. The company has a 50-day moving average of $109.44 and a 200-day moving average of $98.37. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 22.56 and a beta of 1.88.
Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a return on equity of 27.29% and a net margin of 7.81%. Packaging Corporation of America’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Equities research analysts forecast that Packaging Corporation of America will post $5.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Thursday, June 15th were issued a $0.63 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.28%. Packaging Corporation of America’s payout ratio is 51.43%.
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About Packaging Corporation of America
Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.
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