Packaging Corporation of America ($PKG) Stock Forecast: Up 0.1% Today

What is Packaging Corporation of America?

Packaging Corporation of America (NYSE: PKG) is a leading producer of corrugated packaging products and a provider of packaging solutions. The company operates primarily in the United States.

Why is Packaging Corporation of America going up?

PKG stock is up 0.1% on Jul 24, 2024 14:41

• PKG stock experienced a strong bullish movement today.
• The bullish trend can be attributed to Packaging Corp of America beating earnings per share (EPS) and revenue estimates for the second quarter of 2024.
• The company's forecast of upbeat profit for the third quarter, driven by strong demand and higher pricing, also contributed to the positive market sentiment.
• Despite a decrease in Q2 profit compared to the previous year, PKG managed to surpass Street estimates, showcasing resilience and efficiency in its operations.

PKG Price Chart

PKG News

PKG Stock Earnings: Packaging Corp of America Beats EPS, Beats Revenue for Q2 2024

Packaging Corp of America (NYSE:PKG) just reported results for the second quarter of 2024. Packaging Corp of America reported earnings per share of $2.20. This was above the analyst estimate for EPS of $2.14. The company reported revenue of $2.08 billion. This was 2.72% better than the analyst estimate for revenue of $2.02 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/07/pkg-stock-earnings-packaging-corp-of-america-for-q2-of-2024/

Packaging Corp forecasts upbeat profit on strong demand, higher pricing

Packaging Corporation of America forecast third-quarter profit above market estimates, aided by higher pricing and strong demand for its corrugated pa…

https://kfgo.com/2024/07/23/packaging-corp-forecasts-upbeat-profit-on-strong-demand-higher-pricing/

Packaging Corporation Of America Q2 Profit Decreases, But Beats Estimates

WASHINGTON (dpa-AFX) - Packaging Corporation of America (PKG) announced earnings for second quarter that decreased from last year but beat the Street estimates.The company''s bottom line totaled $1…

https://www.finanznachrichten.de/nachrichten-2024-07/62801941-packaging-corporation-of-america-q2-profit-decreases-but-beats-estimates-020.htm

Packaging Corporation of America Reports Second Quarter 2024 Results | PKG Stock News

Packaging Corp. of America reports Q2 earnings: Net income $199M, sales up to $2.1B. Strong corrugated shipments offset lower prices. Q3 outlook positive with expected earnings growth. Dive into the full financial analysis.

https://www.stocktitan.net/news/PKG/packaging-corporation-of-america-reports-second-quarter-2024-eszf9s8972pm.html

Packaging Corporation of America Reports Second Quarter 2024 Results

Packaging Corporation of America (NYSE: PKG) today reported second quarter 2024 net income of $199 million, or $2.21 per share, and net income of $199 million, or $2.20 per share, excluding special items. Second quarter net sales were $2.1 billion in 2024 and $2.0 billion in 2023. Diluted earnings per share attributable to Packaging Corporation of America shareholders Jetzt den vollständigen Artikel lesen

https://www.wallstreet-online.de/nachricht/18299850-packaging-corporation-of-america-reports-second-quarter-2024-results

Trending Today

Solana ($SOL) Crypto Forecast: Up 7.9% Today

Arbitrum ($ARB) Crypto Forecast: Up 5.9% Today

Aptos ($APT) Crypto Forecast: Up 10.0% Today

Chainlink ($LINK) Crypto Forecast: Up 5.1% Today

Sui ($SUI) Crypto Forecast: Up 14.6% Today

Ethereum ($ETH) Crypto Forecast: Up 5.1% Today

Worldcoin ($WLD) Crypto Forecast: Up 5.1% Today

Bonk ($BONK) Crypto Forecast: Up 5.5% Today

Immutable ($IMX) Crypto Forecast: Up 9.1% Today

Render ($RENDER) Crypto Forecast: Up 5.6% Today

Packaging Corporation of America Price History

20.10.2023 - PKG Stock was down 3.7%

• The bearish movement in PKG could be due to profit-taking by investors after a period of strong performance.
• It is possible that investors are concerned about the overall economic outlook, which could impact the demand for packaging products.
• The article suggests that the valuation of PKG is justified by its quality, indicating that the bearish movement may be temporary and present a buying opportunity for investors.

25.09.2023 - PKG Stock was up 5.3%

• Packaging Corp Of America reported a decline in sales for Q3 2023, missing analyst estimates. This could have initially caused a bearish sentiment.
• However, the company's Q3 earnings report showed a net income of $183 million, which may have reassured investors and contributed to the bullish movement.
• The mixed earnings report, with a decline in sales but a positive net income, could indicate that the company has implemented cost-effective operations, as highlighted by the CEO.
• The bearish market sentiment caused by the revenue miss on lower volumes may have been offset by the positive net income and cost-effective operations.

24.06.2024 - PKG Stock was up 0.1%

• PKG stock experienced a strong bullish movement today.
• The bullish trend can be attributed to Packaging Corp of America beating earnings per share (EPS) and revenue estimates for the second quarter of 2024.
• The company's forecast of upbeat profit for the third quarter, driven by strong demand and higher pricing, also contributed to the positive market sentiment.
• Despite a decrease in Q2 profit compared to the previous year, PKG managed to surpass Street estimates, showcasing resilience and efficiency in its operations.