Packaging Corporation of America (PKG) is set to release third-quarter 2024 results on Oct. 22, after the closing bell. The Zacks Consensus Estimate for PKG's third-quarter revenues is pegged at $2.1 billion, indicating 8.2% growth from the year-ago reported figure. The consensus estimate for earnings is pegged at $2.47 per share. The Zacks Consensus Estimate for PKG's third-quarter earnings has been unchanged for the past 60 days. The estimate indicates a year-over-year increase of 20.5%. | --- | --- | --- ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

Packaging Corp. (PKG) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a changing earni ...

Shares of Packaging Corporation of America (PKG) have scaled a new 52-week high of $204.58 on Aug 23, before closing the session lower at $203.81. PKG currently has a market capitalization of $18.3 billion and flaunts a Zacks Rank #1 (Strong Buy). So far this year, Packaging Corp's shares have gained 25.1%. PKG has outperformed the industry's 14% growth and the S&P 500's 18.1% rise. Meanwhile, the Industrial Products sector has gained 7.9%. Image Source: Zacks Investment Research What's Driving the PKG Stoc ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Packaging Corp. (PKG) - Packaging Corp. currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, PKG shares increased by 1.3%, while the Zacks Containers - Paper and Packaging industry rose by 2.57% [5] - In a longer timeframe, PKG's monthly price change is 2.82%, outperforming the industry's 0.53% [5] - Over the last quarter, PKG shares have risen by 6.98%, and over the past year, they have gained 33.76%, compared to the S&P 500's increases of 5.24% and 27.74%, respectively [6] Trading Volume - PKG's average 20-day trading volume is 635,433 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, 5 earnings estimates for PKG have been revised upwards, with no downward revisions, raising the consensus estimate from $8.33 to $8.71 [9] - For the next fiscal year, 4 estimates have also moved higher, indicating positive sentiment around the company's earnings potential [9]

Group 1 - Packaging Corp. (PKG) is a notable stock within the Industrial Products sector, currently ranked 11 in the Zacks Sector Rank, which includes 16 groups ranked by average Zacks Rank of individual companies [2] - The Zacks Rank model, which focuses on earnings estimates and revisions, currently rates Packaging Corp. as 1 (Strong Buy), indicating a positive earnings outlook with a 5.4% increase in the consensus estimate for full-year earnings over the past quarter [3] - Year-to-date, Packaging Corp. has returned 20.2%, significantly outperforming the average gain of 6.2% for the Industrial Products group [4] Group 2 - Packaging Corp. is part of the Containers - Paper and Packaging industry, which consists of 12 companies and is currently ranked 42 in the Zacks Industry Rank, with an average gain of 10% this year [5] - Another stock in the Industrial Products sector, Tetra Tech (TTEK), has shown a year-to-date return of 36.8% and is rated 2 (Buy) by Zacks, with a 0.7% increase in its consensus EPS estimate over the past three months [4][5] - The Pollution Control industry, to which Tetra Tech belongs, is ranked 74 and has seen a 24.3% increase this year, indicating strong performance within that specific industry [6]

Packaging Corporation of America (NYSE:PKG) Q2 2024 Earnings Conference Call July 24, 2024 9:00 AM ET Company Participants Mark Kowlzan - Chairman & Chief Executive Officer Tom Hassfurther - Executive Vice President, Corrugated Products Bob Mundy - Chief Financial Officer Conference Call Participants George Staphos - Bank of America Securities Mike Roxland - Truist Mark Weintraub - Seaport Research Partners Anthony Pettinari - Citi Gabe Hajde - Wells Fargo Philip Ng - Jefferies Charlie Muir-Sands - BNP Pari ...

Core Insights - Packaging Corporation of America (PKG) reported adjusted earnings per share (EPS) of $2.20 for Q2 2024, exceeding the Zacks Consensus Estimate of $2.12 and the company's guidance of $2.07, although it represented a 5% decrease year over year [1][2] Financial Performance - Sales for Q2 2024 increased by 6.3% year over year to $2.08 billion, surpassing the Zacks Consensus Estimate of $2.03 billion [3] - The Packaging segment's sales rose by 6.6% year over year to $1.91 billion, exceeding the estimate of $1.84 billion [4] - Adjusted operating profit was $280 million, down from $290 million in the prior-year quarter, while the estimated segmental adjusted operating income was $242 million [5] - The Paper segment's revenues were $150 million, up 5.1% year over year, beating the estimate of $133 million, with an adjusted operating profit of $26 million compared to $34 million in the previous year [14] Cost and Cash Position - Cost of products sold increased by 8.6% year over year to $1.64 billion, with gross profit falling by 1.6% to $438 million [12] - The company had a cash balance of $1.17 billion at the end of Q2 2024, up from $0.63 billion at the end of the prior-year quarter [15] Future Outlook - The company anticipates improved prices and mix for both Packaging and Paper segments in Q3 2024, driven by previously announced price hikes and higher containerboard export prices [6] - Projected EPS for Q3 2024 is $2.45 [16] - In the Paper segment, volumes are expected to decline sequentially in Q3, with higher operating and converting costs anticipated [17] Market Performance - Packaging Corp's shares have increased by 43.2% over the past year, compared to the industry's growth of 11.7% [7]

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Shares of Packaging Corp. have returned +1.9% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. For the quarter ended June 2024 ...