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Packaging Corporation Of America (PKG)

- NYSE
  • Sep. 16, 2013, 7:31 AM
    • Packaging Corporation of America (PKG) agrees to acquire Boise (BZ) for $12.55 per share in cash, or nearly $2B. The sale is expected to close in Q4, subject to certain customary conditions and regulatory approval.
    • PCA's containerboard capacity will increase to 3.7M tons from the current 2.6M and PCA will now have a market presence in the Pacific Northwest.
    • Synergies are expected to generate pre-tax benefits of $105M, to be fully realized within 3 years of the closing, according to PCA management.
    • Boise shareholders are getting 5x LTM EBITDA for their stock.
    • BZ closed at $9.96 Friday evening, making the purchase price a 26% premium.
    • Press release.
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  • Sep. 12, 2013, 9:25 AM
    • Wells Fargo initiates coverage on Packaging Corporation of America (PKG) at Perform with a PT of $55-$58.
    • Analyst Christopher Manuel believes PKG is a "a well-run company, with one of the lowest cost (first quartile) containerboard mill systems in North America," and is positioned to benefit from favorable pricing dynamics, but "most catalysts are well known and reflected at current valuation levels."
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  • Aug. 28, 2013, 4:29 PM
    • Packaging Corporation Of America (PKG) declares $0.40/share quarterly dividend, in line with previous.
    • Forward yield 2.99%
    • Payable Oct. 15; for shareholders of record Sept. 13; ex-div Sept. 11.
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  • Jul. 16, 2013, 5:39 PM
    After-hours top gainers, as of 5:15 p.m.: EXXI +14%. TRP +4%. FDML +3%. PKG +3%. SMRT +3%.
    After-hours top losers: ZAGG -15%. MSPD -5%. AXP -2%. IBKR -2%. MRGE -2%.
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  • Jul. 16, 2013, 5:26 PM
    More on Packaging Corp Of America (PKG): Q2 beats on all counts as total sales ramp 12% higher Y/Y, driven by higher prices and higher corrugated products volume. Corrugated products shipments per workday were up 5.2%, and total shipments were up 6.8%, aided by one more workday in the quarter. For Q3, the company guides its EPS slightly ahead of the Street, now expecting an EPS of about $0.88, versus the Street view of $0.87. Shares +2.9% AH.
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  • Jul. 16, 2013, 5:05 PM
    Packaging Corp (PKG): Q2 EPS of $0.71 beats by $0.08. Revenue of $800M (+12% Y/Y) beats by $30.59M. Shares +4.9% AH. (PR)
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  • Jul. 16, 2013, 12:10 AM
    Notable earnings after Tuesday’s close: CSX, IBKR, PKG, URI, YHOO
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  • Jul. 15, 2013, 5:35 PM
    Notable earnings after Tuesday’s close: CSX, IBKR, PKG, URI, YHOO
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  • May. 15, 2013, 6:26 PM
    Packaging Corporation of America (PKG) declares $0.40/share quarterly dividend, 28% increase from prior dividend of $0.3125. Forward yield 3.20%. For shareholders of record June 14. Payable July 15. Ex-div date June 12. (PR)
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  • May. 2, 2013, 2:56 PM
    Packaging Corporation of America (PKG) declares $0.3125/share quarterly dividend, in line with previous. Forward yield 2.67%. For shareholders of record june 12. Payable July 15. Ex-div date June 12. (PR)
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  • Apr. 22, 2013, 5:02 PM
    Packaging Corp (PKG): Q1 EPS of $0.62 beats by $0.06. Revenue of $755M (+12% Y/Y) beats by $31.25M. Shares +1.2% AH. (PR)
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  • Apr. 22, 2013, 12:10 AM
    Notable earnings after Monday’s close: ACE, AMP, CNI, HXL, ILMN, NFLX, NXPI, PKG, RCI, SANM, STM, SWFT, TXN, VECO, ZION
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  • Apr. 21, 2013, 5:35 PM
    Notable earnings after Monday’s close: ACE, AMP, CNI, HXL, ILMN, NFLX, NXPI, PKG, RCI, SANM, STM, SWFT, TXN, VECO, ZION
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  • Apr. 12, 2013, 8:04 AM
    Jefferies raises price targets and profit estimates on a number of containerboard stocks on its conviction that recent price increases in the sector will stick due to tight market conditions. PT hikes: International Paper (IP) to $60 from $52, Packaging Corp of America (PKG) to $49 from $39, Rock-Tenn (RKT) to $117 from $105.
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  • Feb. 22, 2013, 12:11 PM
    Goldman Sachs weighs in on the containerboard market, noting inventories are still lean with significant maintenance downtime planned this year by producers. The read-through is positive for International Paper (IP +3.9%), Boise (BZ +4.4%), Packaging Corp (PKG +2.8%) - as well as Goldman sector favorite Rock-Tenn (RKT +4.5%).
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  • Feb. 21, 2013, 4:57 PM
    Industrial packaging stocks gained today on reports Georgia-Pacific plans to raise its price for containerboard by $50/ton this spring, which likely would be followed by price hikes from peers. Industry consolidation and tightening inventories have given producers more pricing power going into spring and summer when demand for shipping cartons usually increases. IP +3.1%, RKT +4.5%, PKG +4.1%, KS +1.7%.
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Company Description
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.