Packaging Company of America (NYSE: PKG – Get an assessment) – Equities researchers at Jefferies Financial Group decreased their Q1 2023 earnings estimates for The Packaging Company of America in a note issued to investors on Thursday, January 26th. Jefferies Financial Group analyst P. Ng now anticipates that the industrial products company will post earnings of $2.23 per share for the quarter, down from their previous forecast of $2.28. The consensus estimate for the packaging company’s current full-year earnings of the US is $8.99 per share. Jefferies Financial Group also issued estimates for the packaging company’s US Q2 2023 earnings at $2.73 EPS, Q3 2023 earnings at $2.59 EPS, Q4 2023 earnings at $2.11 EPS, FY2023 earnings at $9.66 EPS and FY2026 earnings at $9.66 EPS.
PKG has been the subject of several other reports. Bank of America downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating and cut their price objective for the company from $146.00 to $139.00 in a research report on Thursday, December 15th. Truist Financial boosted their target price on shares of the packaging company of America from $138.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets decreased their price objective on shares of Packaging Co. of America from $155.00 to $130.00 in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Packaging Co. of America from $104.00 to $99.00 in a report on Thursday, October 27th. finally, StockNews.com lowered shares of The Packaging Company of America from a “buy” rating to a “hold” rating in a report on Saturday, January 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The packaging company of America has a consensus rating of “Hold” and a consensus price target of $134.33, based on data from MarketBeat.com.
Packaging Co. of America stock down 0.2%
shares of NYSE PKG opened at $138.41 on Monday. The company has a current ratio of 3.02, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63. The Packaging Company of America has a 12-month low of $110.56 and a 12-month high of $168.50. The firm has a market capitalization of $12.81 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.06 and a beta of 0.86. The firm has a fifty day simple moving average of $132.39 and a two hundred day simple moving average of $130.24.
Packaging Company of America (NYSE: PKG – Get an assessment) last announced its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The packaging company of America had a net margin of 12.12% and a return on equity of 26.58%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $2.76 EPS. The firm’s revenue was down 3.2% on a year-over-year basis.
Institutional investors have weighed in on the US packaging company
Several hedge funds have recently bought and sold shares of PKG. Clear Street Markets LLC boosted its position in The Packaging Company of America by 397.4% in the second quarter. Clear Street Markets LLC now owns 194 shares of the industrial products company’s stock valued at $27,000 after buying an additional 155 shares during the period. Bogart Wealth LLC boosted its stake in shares of Packaging Co. of America by 455.6% in the second quarter. Bogart Wealth LLC now owns 200 shares of the industrial products company’s stock valued at $28,000 after buying an additional 164 shares during the last quarter. Private Trust Co. NA acquired a new position in Packaging Co. of America during the second quarter valued at $28,000. AllSquare Wealth Management LLC boosted its holdings in The Packaging Company of America by 170.0% in the third quarter. AllSquare Wealth Management LLC now owns 270 shares of the industrial products company’s stock valued at $30,000 after buying an additional 170 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new position in The Packaging Company of America during the third quarter worth $31,000. Institutional investors and hedge funds own 90.39% of the company’s shares.
A packaging company of America announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Monday, December 19th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, December 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 45.41%.
About The Packaging Company of America
Packaging Corporation of America is engaged in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate & Others. The packaging segment offers a variety of corrugated packaging products such as traditional shipping containers. The paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.
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