Packaging Corporation of Americ (NYSE:PKG).
On July 10 the stock rating was downgraded to “Market Perform” from “” in a report issued by Wells Fargo. On July 6, 2017 KeyBanc initiated coverage setting a rating of “Sector Weight”.
On November 22 the company was downgraded from “Buy” to “Hold” by Deutsche Bank. On November 15 the stock rating was downgraded from “Outperform” to “Market Perform” in an announcement from BMO Capital.
On October 18 the company was rated “Buy” in a report from Bank of America which is up from the previous “Neutral” rating.
The company is trading up from yesterday’s close of $111.29. The company announced a dividend that will be paid on Friday the 14th of July 2017. The dividend payment will be $0.630 per share for the quarter or $2.52 annualized. This dividend represents a yeild of $2.24 which is the dividend as a percentage of the current share price. The ex-dividend date will be on Tuesday the 13th of June 2017.
Shares last traded at $111.84 barely above the 50 day moving average of $104.68 and which is a tad above the 200 day moving average of $95.10. The 50 day moving average was up by +6.84% whereas the 200 day average was up by +17.61%.
Packaging Corporation of America (PCA), launched on January 25, 1999, is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers. As of December 31, 2016, the Company operated five containerboard mills, three paper mills and 94 corrugated products manufacturing plants..
Packaging Corporation of Americ currently has a P/E ratio of 22.82 and market capitalization is 10.45B. As of the last earnings report the EPS was $4.90 and is expected to be $5.95 for the current year with 93,435,000 shares outstanding. Analysts expect next quarter’s EPS will be $1.66 and the next full year EPS is projected to be $6.56.