Ranpak (NYSE:PACK) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Ranpak (NYSE:PACK) released its earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06), Briefing.com reports. Ranpak had a negative return on equity of 2.67% and a negative net margin of 4.41%. The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $90.76 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year.

Ranpak Stock Up 0.5 %

NYSE:PACK traded up $0.03 during midday trading on Friday, reaching $6.11. 353,354 shares of the stock traded hands, compared to its average volume of 465,646. The business has a 50-day moving average of $6.34 and a two-hundred day moving average of $6.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.07 and a current ratio of 2.52. Ranpak has a 12-month low of $2.70 and a 12-month high of $9.04. The stock has a market capitalization of $508.47 million, a PE ratio of -35.11 and a beta of 2.36.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PACK. Robert W. Baird lowered their target price on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday. Baird R W cut Ranpak from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.