Packaging Corp Of America (PKG) Expected to Announce Quarterly Sales of $1.76 Billion

Brokerages predict that Packaging Corp Of America (NYSE:PKG) will report $1.76 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Packaging Corp Of America’s earnings, with the highest sales estimate coming in at $1.82 billion and the lowest estimate coming in at $1.70 billion. Packaging Corp Of America posted sales of $1.69 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, April 23rd.

According to Zacks, analysts expect that Packaging Corp Of America will report full year sales of $7.22 billion for the current fiscal year, with estimates ranging from $7.01 billion to $7.39 billion. For the next year, analysts anticipate that the company will report sales of $7.27 billion, with estimates ranging from $7.04 billion to $7.43 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Tuesday, January 29th. The industrial products company reported $2.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Packaging Corp Of America had a net margin of 10.52% and a return on equity of 30.83%.

Several analysts have recently commented on the stock. ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co downgraded shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $110.00 to $93.00 in a report on Wednesday, January 9th. Finally, Citigroup lowered their target price on shares of 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $101.00.

Shares of PKG stock opened at $98.75 on Tuesday. The stock has a market capitalization of $9.55 billion, a PE ratio of 12.30, a PEG ratio of 1.41 and a beta of 1.80. 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 one year low of $77.90 and a one year high of $124.70.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 3.20%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rowland & Co. Investment Counsel ADV increased its holdings in Packaging Corp Of America by 3.4% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 3,358 shares of the industrial products company’s stock worth $280,000 after buying an additional 110 shares during the last quarter. First Hawaiian Bank boosted its position in Packaging Corp Of America by 5.2% during the fourth 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 period. CSat Investment Advisory L.P. boosted its position in Packaging Corp Of America by 73.8% during the fourth 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 period. Financial Architects Inc boosted its position in Packaging Corp Of America by 27.4% during the fourth 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 period. Finally, Meiji Yasuda Life Insurance Co boosted its position in Packaging Corp Of America by 4.3% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 3,890 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 85.92% 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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