Packaging Corp Of America (NYSE:PKG) – Investment analysts at KeyCorp decreased their Q2 2019 earnings per share (EPS) estimates for Packaging Corp Of America in a report released on Wednesday, June 19th, Zacks Investment Research reports. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings per share of $2.03 for the quarter, down from their prior forecast of $2.05. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Packaging Corp Of America’s Q3 2019 earnings at $2.09 EPS, FY2019 earnings at $8.08 EPS and FY2020 earnings at $7.66 EPS.
Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year.
Shares of Packaging Corp Of America stock traded up $0.40 on Friday, hitting $99.35. 981,301 shares of the company’s stock traded hands, compared to its average volume of 1,416,115. Packaging Corp Of America has a one year low of $77.90 and a one year high of $118.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.05 and a quick ratio of 1.93. The firm’s fifty day moving average price is $94.77. The company has a market cap of $9.35 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.72.
Several institutional investors have recently modified their holdings of PKG. Hancock Whitney Corp increased its position in shares of Packaging Corp Of America by 6.1% during the fourth quarter. Hancock Whitney Corp now owns 3,768 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 217 shares during the last quarter. Citizens Financial Group Inc RI purchased a new stake in shares of Packaging Corp Of America during the first quarter valued at approximately $32,000. Norges Bank purchased a new stake in shares of Packaging Corp Of America during the fourth quarter valued at approximately $81,767,000. Horizon Investments LLC purchased a new stake in shares of Packaging Corp Of America during the first quarter valued at approximately $247,000. Finally, LPL Financial LLC increased its position in shares of Packaging Corp Of America by 22.6% during the fourth quarter. LPL Financial LLC now owns 14,032 shares of the industrial products company’s stock valued at $1,171,000 after acquiring an additional 2,582 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, June 13th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.
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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