Packaging Corporation of America (NYSE:PKG) – Analysts at Jefferies Group dropped their Q3 2017 earnings per share estimates for shares of Packaging Corporation of America in a research note issued to investors on Thursday. Jefferies Group analyst P. Ng now expects that the industrial products company will post earnings per share of $1.70 for the quarter, down from their prior forecast of $1.75. Jefferies Group currently has a “Buy” rating and a $128.00 price target on the stock. Jefferies Group also issued estimates for Packaging Corporation of America’s FY2017 earnings at $6.10 EPS.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a return on equity of 28.31% and a net margin of 8.05%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.

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Several other research firms have also weighed in on PKG. Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub downgraded Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. KeyCorp assumed coverage on Packaging Corporation of America in a research note on Thursday, July 6th. They issued a “sector weight” rating for the company. Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a “sell” rating to a “neutral” rating and raised their target price for the company from $105.00 to $111.00 in a research note on Thursday, July 13th. Finally, BMO Capital Markets raised their target price on Packaging Corporation of America from $104.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Packaging Corporation of America currently has an average rating of “Buy” and an average target price of $102.73.

Shares of Packaging Corporation of America (NYSE PKG) opened at 110.05 on Monday. Packaging Corporation of America has a 52-week low of $73.34 and a 52-week high of $114.31. The company has a market cap of $10.28 billion, a P/E ratio of 21.20 and a beta of 1.87. The stock’s 50 day moving average price is $110.08 and its 200-day moving average price is $99.10.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock valued at $1,222,607,000 after buying an additional 13,193,032 shares during the period. Iridian Asset Management LLC CT raised its position in shares of Packaging Corporation of America by 2,657.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,378,725 shares of the industrial products company’s stock valued at $126,319,000 after buying an additional 1,328,725 shares during the period. Vanguard Group Inc. raised its position in shares of Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock valued at $754,848,000 after buying an additional 445,345 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Packaging Corporation of America during the first quarter valued at about $35,656,000. Finally, Bank of New York Mellon Corp raised its position in shares of Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock valued at $369,689,000 after buying an additional 318,194 shares during the period. Hedge funds and other institutional investors own 88.35% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were paid a $0.63 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.29%. Packaging Corporation of America’s payout ratio is presently 48.56%.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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

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