Sonoco Products Company (SON) Updates Q4 Earnings Guidance
Sonoco Products Company (NYSE:SON) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.68-0.74 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.71.
Several research firms have issued reports on SON. Bank of America Corporation upgraded shares of Sonoco Products from an underperform rating to a buy rating and set a $56.00 price target for the company in a report on Wednesday, September 6th. Robert W. Baird upgraded shares of Sonoco Products from a neutral rating to an outperform rating and raised their price target for the stock from $55.00 to $60.00 in a report on Wednesday, July 19th. Vertical Research upgraded shares of Sonoco Products from a sell rating to a hold rating and set a $45.00 price target for the company in a report on Wednesday, August 2nd. Jefferies Group LLC restated a hold rating and set a $48.00 price target on shares of Sonoco Products in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Sonoco Products from a hold rating to a sell rating in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $51.83.
Shares of Sonoco Products Company (SON) traded up 3.17% during mid-day trading on Thursday, hitting $52.69. 81,738 shares of the stock traded hands. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 20.00 and a beta of 1.13. The firm’s 50-day moving average is $49.75 and its 200-day moving average is $50.46. Sonoco Products Company has a 52 week low of $47.10 and a 52 week high of $55.58.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, analysts forecast that Sonoco Products Company will post $2.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be issued a $0.39 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.56 dividend on an annualized basis and a yield of 3.05%. Sonoco Products’s dividend payout ratio (DPR) is 59.09%.
In other Sonoco Products news, VP Marcy J. Thompson sold 565 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
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About Sonoco Products
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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