Packaging Co. of America (PKG) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Monday, July 18, 2021 6:12 PM

Packaging Co. of America (PKG) announced its quarterly results on Monday. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.04. The company’s quarterly revenue was up 8.1% on a year-over-year basis.

On a related note, analysts at Zacks Investment Research downgraded shares of Packaging Co. of America from a "neutral" rating to an "underperform" rating in a research note to investors on Friday, March 25th.

Shares of Packaging Co. of America (PKG) traded down 2.06% during mid-day trading on Monday, hitting $27.11. Packaging Co. of America (PKG) has a 52 week low of $21.57 and a 52 week high of $30.69. The stock's 50-day moving average is $27.90 and its 200-day moving average is $28.19. The company has a market cap of $2.719 billion and a price-to-earnings ratio of 12.69.

Packaging Corporation of America (PCA), is a producer of containerboard and corrugated products in the United States. During the year ended December 31, 2009, the Company produced approximately 2,258,000 million tons of containerboard, of which about 80% was consumed in PCA's corrugated products manufacturing plants, 11% was sold to domestic customers and 9% was sold to the export market. PCA’s corrugated products manufacturing plants sold about 28.9 billion square feet (BSF) of corrugated products. As of December 31, 2009, it produced 1.4 million tons of kraft linerboard at its mills located in Counce, Tennessee and Valdosta, Georgia, and 0.9 million tons of semi-chemical corrugating medium at the Company’s mills located in Tomahawk, Wisconsin and Filer City, Michigan. On July 2, 2009, the Company acquired a specialty sheet business located in Chicago, Illinois.

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