Packaging Corp Of America (PKG) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $1.25 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $1.18. The company posted revenue of $1417.40 million in the period, compared to analysts expectations of $1455.32 million. The company’s revenue was down -2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS.
Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016.
Packaging Corp Of America closed down -0.36 points or -0.49% at $73.67 with 8,25,141 shares getting traded on Monday. Post opening the session at $73.41, the shares hit an intraday low of $72.65 and an intraday high of $73.75 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 26, 2016, Charles J. Carter (SVP-Containerboard) sold 6,463 shares at $65.63 per share price. According to the SEC, on Mar 9, 2016, Thomas P. Maurer (director) purchased 2,000 shares at $53.47 per share price. On Nov 23, 2015, Mark W Kowlzan (CEO) sold 5,000 shares at $66.00 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.