Packaging Corp Of America (PKG) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. PKG reported $1.30 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $1.31. The company posted revenue of $1484.00 million in the period, compared to analysts expectations of $1460.60 million. PKG’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.
Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Upgraded by BofA/Merrill to ” Buy” on Oct 18, 2016. Goldman Initiated Packaging Corp Of America on Sep 22, 2016 to “Sell”, Price Target of the shares are set at $77.Company shares were Reiterated by Barclays on Jul 25, 2016 to “Overweight”, Firm has raised the Price Target to $ 81 from a previous price target of $71 .
Packaging Corp Of America opened for trading at $81.78 and hit $83.13 on the upside on Friday, eventually ending the session at $82.6, with a gain of 1.54% or 1.25 points. The heightened volatility saw the trading volume jump to 7,97,535 shares. Company has a market cap of $7,783 M.
In a different news, on Jul 25, 2016, Thomas W.h. Walton (SVP) sold 9,000 shares at $73.64 per share price. According to the SEC, on Jul 25, 2016, Kent A. Pflederer (SVP) sold 1,100 shares at $74.30 per share price. On Apr 26, 2016, Charles J. Carter (SVP-Containerboard) sold 6,463 shares at $65.63 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.