Packaging Corp Of America (PKG) reported quarterly earnings results on Wednesday, Apr-20-2016. The company said it had a profit of $1.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $1.01. The company posted revenue of $1401.00 million in the period, compared to analysts expectations of $1398.13 million. The company’s revenue was down -1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS.
Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Downgraded by Dundee to ” Neutral” on Apr 11, 2016. Company shares were Reiterated by Deutsche Bank on Apr 11, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $62 .Packaging Corp Of America was Downgraded by Macquarie to ” Underperform” on Jan 25, 2016.
Packaging Corp Of America opened for trading at $61.91 and hit $62.85 on the upside on Monday, eventually ending the session at $62.58, with a gain of 0.50% or 0.31 points. The heightened volatility saw the trading volume jump to 6,69,393 shares. Company has a market cap of $5,898 M.
In a different news, on Mar 9, 2016, Thomas P. Maurer (director) purchased 2,000 shares at $53.47 per share price. According to the SEC, on Nov 23, 2015, Mark W Kowlzan (CEO) sold 5,000 shares at $66.00 per share price. On Nov 16, 2015, Thomas A Hassfurther (Exec. VP) sold 4,668 shares at $65.32 per share price, according to the Form-4 filing with the securities and exchange commission.
Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Companys operations are primarily in the United States and it has converting operations in Europe Mexico and Canada. The Company operates through three segments: Packaging Paper and Corporate and Other. The Companys corrugated products manufacturing plants produce a variety of corrugated packaging products including shipping containers used to protect and transport manufactured goods multi-color boxes and displays. It manufactures its Packaging products at five containerboard mills one containerboard machine corrugated manufacturing operations and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities and foreign exchange gains and losses.