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Why Graphic Packaging (GPK) Dipped More Than Broader Market Today
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Graphic Packaging (GPK - Free Report) ended the recent trading session at $28.67, demonstrating a -1.75% swing from the preceding day's closing price. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
Prior to today's trading, shares of the packaging company had gained 14.52% over the past month. This has outpaced the Industrial Products sector's gain of 6.47% and the S&P 500's gain of 3.32% in that time.
Market participants will be closely following the financial results of Graphic Packaging in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company is predicted to post an EPS of $0.63, indicating a 18.18% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.39 billion, down 1.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.71 per share and a revenue of $9.65 billion, demonstrating changes of -6.87% and +2.4%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Graphic Packaging. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Graphic Packaging currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Graphic Packaging is at present trading with a Forward P/E ratio of 10.78. This represents a discount compared to its industry's average Forward P/E of 15.63.
The Containers - Paper and Packaging industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Graphic Packaging (GPK) Dipped More Than Broader Market Today
Graphic Packaging (GPK - Free Report) ended the recent trading session at $28.67, demonstrating a -1.75% swing from the preceding day's closing price. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
Prior to today's trading, shares of the packaging company had gained 14.52% over the past month. This has outpaced the Industrial Products sector's gain of 6.47% and the S&P 500's gain of 3.32% in that time.
Market participants will be closely following the financial results of Graphic Packaging in its upcoming release. The company plans to announce its earnings on April 30, 2024. The company is predicted to post an EPS of $0.63, indicating a 18.18% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.39 billion, down 1.82% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.71 per share and a revenue of $9.65 billion, demonstrating changes of -6.87% and +2.4%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Graphic Packaging. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Graphic Packaging currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Graphic Packaging is at present trading with a Forward P/E ratio of 10.78. This represents a discount compared to its industry's average Forward P/E of 15.63.
The Containers - Paper and Packaging industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.