Wall Street analysts expect Packaging Corp Of America (NYSE:PKG) to announce $1.76 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Packaging Corp Of America’s earnings, with the lowest sales estimate coming in at $1.71 billion and the highest estimate coming in at $1.82 billion. Packaging Corp Of America posted sales of $1.64 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The firm is expected to issue its next earnings results after the market closes on Wednesday, October 24th.

On average, analysts expect that Packaging Corp Of America will report full-year sales of $6.97 billion for the current financial year, with estimates ranging from $6.89 billion to $7.04 billion. For the next year, analysts forecast that the business will report sales of $7.16 billion, with estimates ranging from $6.99 billion to $7.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Packaging Corp Of America.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, July 25th. The industrial products company reported $2.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.11. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.72 billion. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share.

PKG has been the subject of a number of recent research reports. Stephens reiterated a “buy” rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Tuesday, June 26th. Barclays reduced their target price on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 30th. ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets downgraded shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $130.00 to $108.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $125.50.

Several hedge funds have recently modified their holdings of the company. Aviva PLC boosted its position in Packaging Corp Of America by 1.0% in the second quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock valued at $5,244,000 after buying an additional 460 shares during the last quarter. ING Groep NV boosted its position in Packaging Corp Of America by 4.8% in the 2nd quarter. ING Groep NV now owns 10,102 shares of the industrial products company’s stock worth $1,129,000 after purchasing an additional 461 shares in the last quarter. Bailard Inc. boosted its position in Packaging Corp Of America by 1.7% in the 2nd quarter. Bailard Inc. now owns 28,506 shares of the industrial products company’s stock worth $3,187,000 after purchasing an additional 472 shares in the last quarter. Suntrust Banks Inc. boosted its position in Packaging Corp Of America by 14.9% in the 1st quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 490 shares in the last quarter. Finally, Carnick & Kubik Group LLC boosted its position in Packaging Corp Of America by 4.8% in the 2nd quarter. Carnick & Kubik Group LLC now owns 10,878 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 494 shares in the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.

Packaging Corp Of America stock traded down $0.31 during trading hours on Friday, reaching $88.05. The stock had a trading volume of 1,887,632 shares, compared to its average volume of 793,689. The company has a market capitalization of $10.37 billion, a PE ratio of 14.63, a P/E/G ratio of 1.67 and a beta of 1.77. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.67 and a current ratio of 2.73. Packaging Corp Of America has a 52 week low of $86.98 and a 52 week high of $131.13.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.59%. Packaging Corp Of America’s payout ratio is 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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