Packaging Corporation of America (NYSE:PKG) is reporting third quarter financial results on Monday 26th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, PKG is expected to report 3Q20 income of $ 1.41 per share from revenue of $ 1644.00 million.
For the full year, analysts anticipate top line of $ 6543.67 million, while looking forward to income of $ 5.40 per share bottom line.
Previous Quarter Performance
Packaging Corporation of America reported income for the second quarter of $ 1.38 per share, from the revenue of $ 1,542.00 million. The quarterly earnings declined 32.35 percent while revenues dropped 12.38 percent compared with the same quarter last year.
The consensus estimates are income of $ 1.28 per share from $ 1634.63 million in revenue. The bottom line results beat street analysts by $ 0.1 or 7.81 percent, at the same time, top line results fell short of analysts by $ 92.63 million or 5.67 percent.
Stock Performance
On Friday, shares of Packaging Corporation of America has traded high as $ 119.60 and has cracked $ 118.20 on the downward trend, reaching $ 119.20 with volume of 409.40 thousand shares.
According to the previous trading day, closing price of $ 119.20, representing a 66.35 % increase from the 52 week low of $ 71.05 and a 2.09 % decrease over the 52 week high of $ 120.71.
The company has a market capital of $ 11.30 billion and is part of the Consumer Cyclical sector and Packaging & Containers industry.
Recent Analyst recommendations
- On 12th October 2020, upgraded by BMO Capital Markets to Outperform from Market Perform rating, with $ 134.00 target price.
- On 15th September 2020, maintained by Bank of America at Buy rating, with $ 118.00 target price.
- On 9th September 2020, maintained by Wells Fargo & Co at Equal-Weight rating, with $ 102.00 target price.
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The companys 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. It also produces packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.
