Brokers Offer Predictions for Ranpak FY2024 Earnings

Ranpak Holdings Corp. (NYSE:PACK) – Analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for Ranpak in a note issued to investors on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen forecasts that the company will post earnings per share of ($0.20) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $11.50 price target on the stock.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $92.20 million during the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS.

Separately, Robert W. Baird cut 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, November 1st.

Ranpak Trading Down 0.1 %

NYSE PACK opened at $7.13 on Monday. Ranpak has a 52-week low of $3.85 and a 52-week high of $9.04. The firm has a 50-day moving average price of $6.98 and a 200 day moving average price of $6.76. The stock has a market capitalization of $593.62 million, a P/E ratio of -29.71 and a beta of 2.42. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71.

Institutional Trading of Ranpak

A number of institutional investors have recently added to or reduced their stakes in PACK. Dimensional Fund Advisors LP increased its holdings in Ranpak by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after buying an additional 542,464 shares in the last quarter. Meros Investment Management LP grew its holdings in shares of Ranpak by 32.6% in the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock worth $6,068,000 after acquiring an additional 231,779 shares during the period. AQR Capital Management LLC purchased a new position in Ranpak in the 2nd quarter valued at approximately $1,178,000. State Street Corp increased its stake in Ranpak by 15.2% in the 3rd quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after purchasing an additional 149,446 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Ranpak by 146.8% during the second quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock worth $1,459,000 after purchasing an additional 134,910 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

About Ranpak

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.