Sonoco Products (NYSE:SON) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.88-0.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.92. Sonoco Products also updated its FY 2019 guidance to $3.52-3.62 EPS.
Several brokerages have recently issued reports on SON. Goldman Sachs Group cut Metcash from a conviction-buy rating to a neutral rating in a research note on Monday, June 24th. Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the stock a buy rating in a research note on Friday, July 12th. ValuEngine cut United Rentals from a sell rating to a strong sell rating in a research note on Thursday. KeyCorp restated a hold rating on shares of Sonoco Products in a research note on Thursday. Finally, Vertical Research cut Sonoco Products from a hold rating to a sell rating in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $58.86.
Sonoco Products stock opened at $60.92 on Friday. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 3.68 and a beta of 0.94. Sonoco Products has a 52 week low of $50.30 and a 52 week high of $66.57. The business’s 50-day moving average is $64.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.91 and a current ratio of 1.24.
Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, July 18th. The industrial products company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.42 billion. Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. The firm’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.93 earnings per share. On average, sell-side analysts anticipate that Sonoco Products will post 3.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, August 8th. Sonoco Products’s dividend payout ratio (DPR) is 51.04%.
In other Sonoco Products news, VP Roger P. Schrum sold 812 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the sale, the vice president now directly owns 7,938 shares of the company’s stock, valued at $494,140.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rodger D. Fuller sold 5,085 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $60.25, for a total value of $306,371.25. Following the completion of the sale, the senior vice president now directly owns 72,978 shares in the company, valued at $4,396,924.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,381 shares of company stock worth $758,537. 1.30% of the stock is owned by corporate insiders.
About Sonoco Products
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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