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Packaging Corp. (PKG) Dips More Than Broader Markets: What You Should Know
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Packaging Corp. (PKG - Free Report) closed the most recent trading day at $137.83, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Coming into today, shares of the maker of containerboard and corrugated packaging products had lost 7.72% in the past month. In that same time, the Industrial Products sector lost 11.44%, while the S&P 500 lost 5.08%.
Wall Street will be looking for positivity from Packaging Corp. as it approaches its next earnings report date. This is expected to be July 25, 2022. On that day, Packaging Corp. is projected to report earnings of $2.87 per share, which would represent year-over-year growth of 32.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.13 billion, up 13.42% from the prior-year quarter.
PKG's full-year Zacks Consensus Estimates are calling for earnings of $11.66 per share and revenue of $8.64 billion. These results would represent year-over-year changes of +24.17% and +11.77%, respectively.
It is also important to note the recent changes to analyst estimates for Packaging Corp.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Packaging Corp. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Packaging Corp. is currently trading at a Forward P/E ratio of 11.99. Its industry sports an average Forward P/E of 11.99, so we one might conclude that Packaging Corp. is trading at a no noticeable deviation comparatively.
We can also see that PKG currently has a PEG ratio of 2.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Containers - Paper and Packaging stocks are, on average, holding a PEG ratio of 1.41 based on yesterday's closing prices.
The Containers - Paper and Packaging industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PKG in the coming trading sessions, be sure to utilize Zacks.com.
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Packaging Corp. (PKG) Dips More Than Broader Markets: What You Should Know
Packaging Corp. (PKG - Free Report) closed the most recent trading day at $137.83, moving -1.42% from the previous trading session. This change lagged the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Coming into today, shares of the maker of containerboard and corrugated packaging products had lost 7.72% in the past month. In that same time, the Industrial Products sector lost 11.44%, while the S&P 500 lost 5.08%.
Wall Street will be looking for positivity from Packaging Corp. as it approaches its next earnings report date. This is expected to be July 25, 2022. On that day, Packaging Corp. is projected to report earnings of $2.87 per share, which would represent year-over-year growth of 32.26%. Meanwhile, our latest consensus estimate is calling for revenue of $2.13 billion, up 13.42% from the prior-year quarter.
PKG's full-year Zacks Consensus Estimates are calling for earnings of $11.66 per share and revenue of $8.64 billion. These results would represent year-over-year changes of +24.17% and +11.77%, respectively.
It is also important to note the recent changes to analyst estimates for Packaging Corp.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Packaging Corp. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Packaging Corp. is currently trading at a Forward P/E ratio of 11.99. Its industry sports an average Forward P/E of 11.99, so we one might conclude that Packaging Corp. is trading at a no noticeable deviation comparatively.
We can also see that PKG currently has a PEG ratio of 2.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Containers - Paper and Packaging stocks are, on average, holding a PEG ratio of 1.41 based on yesterday's closing prices.
The Containers - Paper and Packaging industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PKG in the coming trading sessions, be sure to utilize Zacks.com.