Sonoco Products (NYSE:SON) Releases Q4 Earnings Guidance

by · The Cerbat Gem

Sonoco Products (NYSE:SON – Get Free Report) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.15-$1.35 for the period, compared to the consensus estimate of $1.20.

Sonoco Products Trading Up 0.1 %

SON traded up $0.05 during trading hours on Thursday, reaching $52.52. The company’s stock had a trading volume of 911,358 shares, compared to its average volume of 612,481. The business’s 50-day moving average is $54.09 and its 200-day moving average is $54.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The stock has a market cap of $5.16 billion, a PE ratio of 14.10, a P/E/G ratio of 2.22 and a beta of 0.68. Sonoco Products has a fifty-two week low of $48.22 and a fifty-two week high of $61.73.

Sonoco Products (NYSE:SON – Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. As a group, equities research analysts predict that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is 55.91%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SON. StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Raymond James initiated coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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Sonoco Products Company Profile

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Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.

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