DA Davidson Weighs in on Packaging Corp Of America’s Q1 2019 Earnings (PKG)

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Packaging Corp Of America (NYSE:PKG) – DA Davidson issued their Q1 2019 earnings estimates for shares of Packaging Corp Of America in a research note issued on Thursday, October 25th. DA Davidson analyst S. Chercover anticipates that the industrial products company will earn $1.90 per share for the quarter. DA Davidson also issued estimates for Packaging Corp Of America’s Q2 2019 earnings at $2.24 EPS, Q4 2019 earnings at $2.31 EPS and FY2019 earnings at $8.90 EPS.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Packaging Corp Of America had a net margin of 11.54% and a return on equity of 30.77%.

PKG has been the topic of several other reports. Seaport Global Securities assumed coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 23rd. They set a “buy” rating and a $112.00 target price on the stock. Citigroup boosted their target price on shares of Packaging Corp Of America from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Barclays decreased their target price on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 30th. ValuEngine upgraded shares of Packaging Corp Of America from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Finally, BMO Capital Markets lowered shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $130.00 to $108.00 in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $116.91.

Shares of PKG opened at $92.96 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.36 and a beta of 1.77. Packaging Corp Of America has a 1 year low of $83.54 and a 1 year high of $131.13.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Midas Management Corp purchased a new stake in shares of Packaging Corp Of America in the 3rd quarter worth about $2,084,000. Korea Investment CORP boosted its position in shares of Packaging Corp Of America by 27.6% in the 2nd quarter. Korea Investment CORP now owns 85,473 shares of the industrial products company’s stock worth $9,555,000 after buying an additional 18,500 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Packaging Corp Of America by 625.0% in the 2nd quarter. Bank of Nova Scotia now owns 88,751 shares of the industrial products company’s stock worth $9,921,000 after buying an additional 76,510 shares in the last quarter. Manning & Napier Group LLC boosted its position in shares of Packaging Corp Of America by 13.8% in the 3rd quarter. Manning & Napier Group LLC now owns 18,243 shares of the industrial products company’s stock worth $2,000,000 after buying an additional 2,216 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Packaging Corp Of America by 3.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,214 shares of the industrial products company’s stock worth $182,689,000 after buying an additional 54,599 shares in the last quarter. Institutional investors own 87.12% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 14th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.40%. Packaging Corp Of America’s payout ratio is currently 52.49%.

About Packaging Corp Of America

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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Earnings History and Estimates for Packaging Corp Of America (NYSE:PKG)

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