$1.76 Billion in Sales Expected for Packaging Corp Of America (PKG) This Quarter

Analysts expect Packaging Corp Of America (NYSE:PKG) to post $1.76 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Packaging Corp Of America’s earnings, with estimates ranging from $1.71 billion to $1.82 billion. Packaging Corp Of America reported sales of $1.64 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, October 24th.

On average, analysts expect that Packaging Corp Of America will report full-year sales of $6.97 billion for the current year, with estimates ranging from $6.89 billion to $7.04 billion. For the next financial year, analysts anticipate that the business will post sales of $7.16 billion, with estimates ranging from $6.99 billion to $7.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS.

A number of equities analysts recently commented on the company. Citigroup lowered their target price on Packaging Corp Of America from $124.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday. Zacks Investment Research upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Tuesday, June 26th. ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Stephens restated a “buy” rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. Finally, Barclays lowered their target price on Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Packaging Corp Of America currently has a consensus rating of “Hold” and an average target price of $125.50.

Shares of NYSE PKG traded down $0.31 during mid-day trading on Friday, reaching $88.05. 1,887,632 shares of the company’s stock were exchanged, compared to its average volume of 793,689. Packaging Corp Of America has a 52-week low of $86.98 and a 52-week high of $131.13. The stock has a market cap of $10.37 billion, a PE ratio of 14.63, a P/E/G ratio of 1.67 and a beta of 1.77. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, September 13th. Packaging Corp Of America’s dividend payout ratio (DPR) is 52.49%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aviva PLC boosted its stake in shares of Packaging Corp Of America by 1.0% in the 2nd quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock valued at $5,244,000 after buying an additional 460 shares during the period. ING Groep NV boosted its stake in shares of Packaging Corp Of America by 4.8% in the 2nd quarter. ING Groep NV now owns 10,102 shares of the industrial products company’s stock valued at $1,129,000 after buying an additional 461 shares during the period. Bailard Inc. boosted its stake in shares of Packaging Corp Of America by 1.7% in the 2nd quarter. Bailard Inc. now owns 28,506 shares of the industrial products company’s stock valued at $3,187,000 after buying an additional 472 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Packaging Corp Of America by 14.9% in the 1st quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock valued at $424,000 after buying an additional 490 shares during the period. Finally, Carnick & Kubik Group LLC boosted its stake in shares of Packaging Corp Of America by 4.8% in the 2nd quarter. Carnick & Kubik Group LLC now owns 10,878 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 494 shares during the period. Institutional investors and hedge funds own 87.16% 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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