Sonoco Products (NYSE:SON) Issues Q4 Earnings Guidance

by · The Markets Daily

Sonoco Products (NYSE:SON – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.15-$1.35 for the period, compared to the consensus EPS estimate of $1.20. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Sonoco Products Price Performance

SON stock traded down $1.38 during midday trading on Friday, hitting $51.14. The company’s stock had a trading volume of 1,382,678 shares, compared to its average volume of 588,379. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company has a 50 day moving average of $54.03 and a two-hundred day moving average of $54.56. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69.

Sonoco Products (NYSE:SON – Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts expect that Sonoco Products will post 5 EPS for the current year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.07%. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Sonoco Products in a research report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. Finally, Citigroup boosted their target price on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Get Our Latest Stock Analysis on SON

Sonoco Products Company Profile

(Get Free Report)

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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