Graphic Packaging (NYSE:GPK) Updates FY 2024 Earnings Guidance

Graphic Packaging (NYSE:GPK) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.650-2.850 for the period, compared to the consensus earnings per share estimate of 2.690. The company issued revenue guidance of -.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Graphic Packaging from a buy rating to a hold rating in a research note on Thursday, February 22nd. Citigroup boosted their target price on Graphic Packaging from $32.00 to $34.00 and gave the stock a buy rating in a report on Thursday, April 4th. Wells Fargo & Company reissued an underweight rating and issued a $21.00 target price on shares of Graphic Packaging in a report on Monday, April 1st. Finally, Robert W. Baird boosted their target price on Graphic Packaging from $28.00 to $30.00 and gave the stock an outperform rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $28.44.

Graphic Packaging Trading Up 3.0 %

NYSE:GPK traded up $0.79 during trading hours on Thursday, hitting $26.83. 1,938,555 shares of the stock were exchanged, compared to its average volume of 2,867,297. The company’s 50 day moving average is $27.51 and its two-hundred day moving average is $25.05. The company has a quick ratio of 0.42, a current ratio of 1.24 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $8.24 billion, a P/E ratio of 11.78 and a beta of 0.86. Graphic Packaging has a twelve month low of $20.07 and a twelve month high of $29.50.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.38 billion. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. On average, sell-side analysts anticipate that Graphic Packaging will post 2.7 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Thursday, March 14th. Graphic Packaging’s payout ratio is 18.10%.

Insider Activity

In related news, EVP Joseph P. Yost sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $26.20, for a total value of $1,834,000.00. Following the completion of the sale, the executive vice president now directly owns 205,231 shares in the company, valued at approximately $5,377,052.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.