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Apr. 20, 2015, 5:03 PM
- Packaging (NYSE:PKG): Q1 EPS of $1.01 misses by $0.07.
- Revenue of $1.43B (flat Y/Y) misses by $10M.
Apr. 19, 2015, 5:35 PM
Mar. 6, 2015, 2:58 PM
- Domtar (UFS +3.6%) shoots higher following headlines that the company received a favorable ruling from the International Trade Commission in the preliminary phase of anti-dumping and countervailing duty investigations concerning certain uncoated paper from Australia, Brazil, China, Indonesia and Portugal.
- Other paper packaging stocks are lower: IP -0.9%, PKG -1.9%, RKT -1.7%, MWV -1.8%, KS -1.5%.
Feb. 26, 2015, 5:08 PM
- Packaging Corp (NYSE:PKG) declares $0.55/share quarterly dividend, 37.5% increase from prior dividend of $0.40.
- Forward yield 2.66%
- Payable April 15; for shareholders of record March 13; ex-div March 11.
Feb. 23, 2015, 1:15 PM
- Paper stocks have spiked suddenly in mid-day trading.
- Rock-Tenn (RKT +0.3%), International Paper (IP +0.1%), Packaging Corp. of America (PKG +1.2%), and KapStone Paper & Packaging Corp (KS +1.2%) have all rallied sharply from negative territory.
- Earlier this year, Rock-Tenn and MeadWestvaco (MWV +0.1%) rocked the sector with the announcement of a merger.
- Updated: Citi is positive on pricing on the sector and thinks KapStone is pushing through a price hike.
Jan. 28, 2015, 9:05 AM
- D.A. Davidson upgrades Packaging Corp. of America (NYSE:PKG) to a Buy rating from Neutral on what it sees as an overreaction to the firm's Q1 guidance.
- The investment firm sets a $90 price target on shares.
- It's been a volatile week for the paper/containerboard sector after Rock-Tenn and MeadWestvaco announced their merger on Monday.
- PKG +2.5% premarket to $78.20.
Jan. 27, 2015, 1:20 PM
- Shares of Packaging Corp. of America (PKG -8%) decline after the company missed slightly with its Q4 report and issued disappointing guidance.
- Several sector peers are also lower: KapStone Paper & Packaging (NYSE:KS) -4.7%, Rock-Tenn (NYSE:RKT) -1.6%, International Paper (NYSE:IP) -1.3%.
- Yesterday, the sector was all smiles off M&A buzz.
Jan. 26, 2015, 6:51 PM
- Packaging Corp. of America's (NYSE:PKG) Q4 revenue rose 13% to a record $1.43B as its Boise acquisition helped boost shipments of corrugated products, but shares -7% AH as earnings and revenue missed estimates.
- PKG also issues downside guidance for Q1, seeing EPS of $1.07-$1.10 vs. $1.25 analyst consensus estimate, as it anticipates lost containerboard production of ~60K tons, higher operating costs from annual maintenance downtime at its two largest containerboard mills, and two fewer production days than in Q4.
- Q4 packaging sales rose 8.8% Y/Y to $1.12B, while shipments of corrugated products grew 5.4% and jumped 11% when including Boise.
- Containerboard production totaled 927K tons vs. 803K tons in the year-ago period and 858K in Q3, as the latest quarter included 58K tons produced on a machine converted to containerboard production from at its DeRidder, La., operation.
Jan. 26, 2015, 5:36 PM
Jan. 26, 2015, 5:16 PM
- Packaging Corp (NYSE:PKG): Q4 EPS of $1.16 misses by $0.01.
- Revenue of $1.43B (+13.5% Y/Y) misses by $60M.
- Shares -5.7% AH.
Jan. 26, 2015, 9:52 AM
- A mega-merger in the paper industry between Rock-Tenn and MeadWestvaco has lifted other names in the sector fighting a tough tape.
- The delicate balance of pricing in the containerboard/packaging/paper sector is viewed as more stable with two giants combining.
- Advancers: Packaging Corp. of America (NYSE:PKG) +1.4%, International Paper (NYSE:IP) +0.7%, KapStone Paper and Packaging (NYSE:KS) +2.8%, Clearwater Paper (NYSE:CLW) +0.2%, Wausau Paper (NYSE:WPP) +0.1%, Orchids Paper Products (NYSEMKT:TIS) +0.3%.
- Previously: Rock-Tenn and MeadWestvaco up on paper
- Previously: Rock-Tenn and MeadWestvaco to merge
Jan. 25, 2015, 5:35 PM
Dec. 9, 2014, 5:14 PM
- Packaging Corporation Of America (NYSE:PKG) declares $0.40/share quarterly dividend, in line with previous.
- Forward yield 2.09%
- Payable Jan 15; for shareholders of record Dec. 19; ex-div Dec. 17.
Dec. 9, 2014, 10:08 AM
Nov. 10, 2014, 9:44 AM
- Goldman Sachs says it is building in an MLP premium into its share price targets for containerboard stocks it covers, to reflect recent commentary from International Paper (IP -0.1%), Rock-Tenn (RKT -0.1%) and Packaging Corp. of America (PKG +0.1%).
- The firm maintains a Buy rating on International Paper and raises its price target to $60 from $51, RockTenn is maintained at Buy with a $63 price target from $52, and Neutral-rated Packaging Corp.'s price target is raised to $80 from $69.
- Goldman says its revised price targets imply an average 13% upside for IP, RKT and PKG, as it estimates that ~60%, 60%, and 85% of total company EBITDA could qualify for MLP status under current IRS guidelines.
Oct. 20, 2014, 6:26 PM
- Packaging Corp's (NYSE:PKG) segment revenue - Packaging $1.18B (39.6% Y/Y); Paper $312.5M.
- Segment income - Packaging $164.7M (6.3% Y/Y); Paper $43M.
- Q4 EPS guidance of $1.16 in-line with consensus.
- QCC at 10 ET tomorrow. Webcast here
- Shares -0.6% AH.
- Previously: Packaging Corporation Of America EPS in-line, beats on revenue
Packaging Corp of America is a producer of container board and corrugated products in the United States. The Company also produces multi-color boxes and displays, as well as meat boxes and wax-coated boxes for the agricultural industry.
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