Cantor Fitzgerald Forecasts Ranpak FY2024 Earnings

Ranpak Holdings Corp. (NYSE:PACK) – Equities research analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for Ranpak in a research report issued on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen expects 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 posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $92.20 million for the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. Ranpak’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share.

Separately, Robert W. Baird cut their price target 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 Stock Performance

Shares of PACK stock opened at $7.11 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The stock has a market cap of $591.96 million, a PE ratio of -29.63 and a beta of 2.42. Ranpak has a 1 year low of $3.85 and a 1 year high of $9.04. The stock has a fifty day moving average price of $7.00 and a 200 day moving average price of $6.77.

Hedge Funds Weigh In On Ranpak

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Ranpak by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after acquiring an additional 11,409 shares in the last quarter. Legato Capital Management LLC acquired a new position in Ranpak in the 2nd quarter valued at about $91,000. Innealta Capital LLC purchased a new position in Ranpak in the 2nd quarter valued at about $31,000. Weil Company Inc. boosted its stake in shares of Ranpak by 117.7% during the 2nd quarter. Weil Company Inc. now owns 39,299 shares of the company’s stock worth $253,000 after purchasing an additional 21,245 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Ranpak by 177.4% during the second quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after buying an additional 81,552 shares in 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.