Graphic Packaging Holding Company (GPK) has a market cap of $4.1 billion. It fell 1.2% to close at $12.81 per share on November 22, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -1.3%, -6.8%, and 0.98%, respectively, on the same day.
GPK is trading 1.2% above its 20-day moving average, 3.9% below its 50-day moving average, and 2.3% below its 200-day moving average.
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On November 22, 2016, CLSA initiated the coverage of Graphic Packaging Holding Company with an “outperform” rating and set the stock’s price target at $15.00 per share.
Performance of Graphic Packaging in 3Q16
Graphic Packaging (GPK) reported 3Q16 net sales of $1.10 billion, a rise of 3.1% compared to net sales of $1.07 billion in 3Q15. The company’s income from operations as a percentage of net sales narrowed 80 basis points in 3Q16 compared to 3Q15.
Its net income fell to $57.8 million in 3Q16 compared to $60.2 million in 3Q15. It reported EPS (earnings per share) of $0.18 for 3Q16 and 3Q15. It reported adjusted EBITDA[1. earnings before interest, tax, depreciation, and amortization] of $200.1 million in 3Q16, a rise of 1.5% compared to 3Q15.
GPK’s cash and cash equivalents fell 16.8% and its inventories rose 6.2% between 3Q16 and 4Q15.
GPK has declared a quarterly cash dividend of $0.075 per share on its common stock. The dividend will be paid on January 5, 2017, to shareholders of record on December 15, 2016.
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