Sonoco Products (NYSE:SON – Get Free Report) announced its earnings results on Wednesday. The industrial products company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07), FiscalAI reports. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.07 billion. Sonoco Products had a net margin of 8.41% and a return on equity of 16.50%.
Sonoco Products Trading Up 0.5%
Sonoco Products stock traded up $0.24 during trading on Wednesday, reaching $51.07. 1,462,126 shares of the company were exchanged, compared to its average volume of 1,156,384. The stock’s 50 day simple moving average is $51.82 and its two-hundred day simple moving average is $52.60. The company has a market capitalization of $5.05 billion, a P/E ratio of 8.12, a PEG ratio of 1.28 and a beta of 0.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.55. Sonoco Products has a 52-week low of $38.65 and a 52-week high of $60.67.
Sonoco Products Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a dividend of $0.54 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.16 dividend on an annualized basis and a yield of 4.2%. Sonoco Products’s dividend payout ratio (DPR) is presently 34.34%.
Analyst Ratings Changes
Several brokerages recently commented on SON. Bank of America cut Sonoco Products from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $69.00 to $60.00 in a research report on Thursday, September 3rd. Truist Financial lowered their target price on shares of Sonoco Products from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Weiss Ratings cut shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Wells Fargo & Company dropped their target price on shares of Sonoco Products from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday. Finally, UBS Group decreased their price target on shares of Sonoco Products from $61.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.89.
View Our Latest Research Report on SON
About Sonoco Products
Sonoco Products Company is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, it has developed from a producer of paper cones for the textile industry into a diversified provider of packaging solutions serving consumer, industrial and commercial customers.
The company manufactures a broad range of products, including composite cans and tubes, paperboard packaging, flexible packaging, thermoformed packaging, rigid plastic containers, protective packaging and packaging components.
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