Packaging Co. of America (NYSE:PKG) Expected to Post Quarterly Sales of $1.95 Billion

Equities research analysts expect that Packaging Co. of America (NYSE:PKG) will report sales of $1.95 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Packaging Co. of America’s earnings. The highest sales estimate is $2.01 billion and the lowest is $1.91 billion. Packaging Co. of America reported sales of $1.69 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.4%. The firm is scheduled to issue its next earnings report on Monday, October 25th.

On average, analysts expect that Packaging Co. of America will report full year sales of $7.57 billion for the current fiscal year, with estimates ranging from $7.52 billion to $7.67 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.83 billion, with estimates ranging from $7.55 billion to $8.06 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Packaging Co. of America.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Sunday, July 25th. The industrial products company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.39. Packaging Co. of America had a return on equity of 19.69% and a net margin of 8.97%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm earned $1.38 EPS.

Separately, Wells Fargo & Company raised their price objective on Packaging Co. of America from $145.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, June 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and an average price target of $140.44.

NYSE PKG traded down $2.33 during mid-day trading on Friday, reaching $143.71. 1,115,981 shares of the company’s stock traded hands, compared to its average volume of 605,265. Packaging Co. of America has a 1-year low of $102.76 and a 1-year high of $156.54. The company has a fifty day simple moving average of $143.77 and a 200-day simple moving average of $142.10. The company has a current ratio of 3.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.72. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 3.57 and a beta of 0.89.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, September 14th. Packaging Co. of America’s dividend payout ratio is presently 69.20%.

In related news, SVP Donald R. Shirley sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $144.51, for a total value of $361,275.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Charles J. Carter sold 14,138 shares of the firm’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $151.52, for a total value of $2,142,189.76. Following the completion of the sale, the senior vice president now directly owns 23,231 shares in the company, valued at approximately $3,519,961.12. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PKG. Bedel Financial Consulting Inc. raised its stake in Packaging Co. of America by 266.7% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 275 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. CWM LLC raised its stake in Packaging Co. of America by 263.0% during the 1st quarter. CWM LLC now owns 294 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 213 shares in the last quarter. Penserra Capital Management LLC raised its stake in Packaging Co. of America by 29.1% during the 2nd quarter. Penserra Capital Management LLC now owns 306 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 69 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Packaging Co. of America during the 2nd quarter valued at $59,000. Finally, FFT Wealth Management LLC bought a new stake in Packaging Co. of America during the 2nd quarter valued at $59,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Company Profile

Packaging Corp. of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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Earnings History and Estimates for Packaging Co. of America (NYSE:PKG)

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