Packaging Corp. (PKG) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Packaging Corp. (PKG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Does Packaging Corp. (PKG) have what it takes to be a top stock pick for momentum investors? Let's find out.
Packaging Corp. (PKG) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
PKG's Q3 top line reflects the impacts of higher volume in both segments, partially offset by lower prices and mix in the Paper segment.
Packaging Corporation of America (NYSE:PKG ) Q3 2024 Earnings Call Transcript October 23, 2024 9:00 AM ET Company Participants Mark Kowlzan - Chairman and Chief Executive Officer Tom Hassfurther - Executive Vice President, Corrugated Products Bob Mundy - Executive Vice President and Chief Financial Officer Conference Call Participants George Staphos - Bank of America Securities Mike Roxland - Truist Securities Gabe Hajde - Wells Fargo Mark Weintraub - Seaport Research Partners Philip Ng - Jeffries Anthony Pettinari - Citi Charlie Sands - BNP Paribas Ryan Fox - Bloomberg Operator Good morning, everyone. Thank you for joining Packaging Corporation of America's Third Quarter 2024 Earnings Results Conference Call.
While the top- and bottom-line numbers for Packaging Corp. (PKG) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Packaging Corp. (PKG) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.48 per share. This compares to earnings of $2.05 per share a year ago.
Besides Wall Street's top -and-bottom-line estimates for Packaging Corp. (PKG), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.
PKG's third-quarter 2024 results are likely to reflect the impacts of lower prices in both segments, offset by stable packaging demand.
Does Packaging Corp. (PKG) have what it takes to be a top stock pick for momentum investors? Let's find out.
Packaging Corp. (PKG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).