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PKG

Packaging Corp.

$85.54

1.77 (2.11%)

18:01
10/19/16
10/19
18:01
10/19/16
18:01

Packaging Corp. sees Q4 EPS $1.15, consensus $1.16

"Looking ahead to the fourth quarter," chairman and CEO Mark Kowlzan said, "we expect seasonally lower volumes for containerboard and corrugated products, which includes four less shipping days, as well as a seasonally less rich mix in corrugated products, compared to the third quarter. However, we will have three months of TimBar activity in the fourth quarter versus only one month in the third quarter. In addition, we did announce a price increase of $50 per ton effective October 1st to our containerboard customers as well as a price increase to our corrugated products customers. We expect seasonally lower volumes and a less rich mix in white papers and, with colder weather, wood and fuel costs are expected to be seasonally higher along with some price inflation on recycled fiber. Our annual outage costs also will be higher with the scheduled maintenance work at our Filer City, Michigan containerboard mill. Considering these items, we expect fourth quarter earnings of $1.15 per share. In addition, as previously announced, we are on track to close the acquisition of Columbus Container during the fourth quarter."

  • 20

    Oct

PKG Packaging Corp.
$85.54

1.77 (2.11%)

09/23/16
DBAB
09/23/16
UPGRADE
Target $90
DBAB
Buy
Packaging Corp. upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Debbie Jones upgraded Packaging Corp. of America (PKG) to Buy citing an "improved earnings trajectory" following the TimBar acquisition. The analyst raised her price target for the shares to $90 from $77. Jones this morning also upgraded KapStone (KS) to Buy. She raised her estimates across the Paper & Packaging space to reflect the likelihood of success for the October containerboard price hike initiative. Jones also raised her price target for Buy-rated WestRock to $53 from $50 and Hold-rating International Paper (IP) to $50 from $42.
09/23/16
09/23/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) upgraded to Overweight from Equal Weight by Barclays analyst Karen Short, who assumed coverage of Wal-Mart and upped the price target for the shares to $87 from $70. Wal-Mart is Short's top pick in the sector, as she believes the retailing giant's "re-emergence as a disruptor" has the potential to "wreak havoc" on many companies in the space. 2. Cabot Oil & Gas (COG) upgraded two notches to Strong Buy from Market Perform by Raymond James analyst Kevin Smith, who said Cabot has improving fundamentals, a "prolific" growth outlook, and an attractive valuation. 3. BioDelivery Sciences (BDSI) upgraded to Buy from Neutral by Janney Capital analyst Ken Trbovich, who said that Endo International (ENDP), which uses BioDelivery's drug delivery technology, has "not yet announced, but clearly won" preferred status for Belbuca relative to market leader Butrans on United Healthcare's Prescription Drug List. 4. Packaging Corp. (PKG) upgraded to Buy from Hold by Deutsche Bank analyst Debbie Jones, citing an "improved earnings trajectory" following the TimBar acquisition. The analyst raised her price target for the shares to $90 from $77. 5. Prudential Financial (PRU) upgraded to Conviction Buy from Neutral by Goldman Sachs analyst Michael Kovac, who says his earnings estimates are now above consensus due to favorable equity markets, slowing rate pressure and lower currency headwinds. He expects Prudential's earnings to grow 10% in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/18/16
BOFA
10/18/16
UPGRADE
BOFA
Buy
Packaging Corp. upgraded to Buy from Neutral at BofA/Merrill
10/18/16
10/18/16
UPGRADE
Target $92

Buy
Packaging Corp. upgraded to Buy at BofA/Merrill
As previously reported, BofA/Merrill upgraded Packaging Corp to Buy from Neutral and raised its price target to $92 from $91. Analyst George Staphos likes Packaging Corp's relative positioning in containerboard given improving fundamentals and recent favorable industry data. He believes the company may look to increase board production through strategic acquisitions that could act as a catalyst for shares. Staphos expects a good quarter from the company and also expects container pricing to increase $25/ton+ the next few months.

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AON

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KBR

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TRQ

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