Sonoco Products Co (NYSE:SON) declared a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders of record on Wednesday, February 28th will be paid a dividend of 0.39 per share by the industrial products company on Friday, March 9th. This represents a $1.56 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, February 27th.
Sonoco Products has raised its dividend by an average of 6.6% annually over the last three years and has increased its dividend annually for the last 37 consecutive years. Sonoco Products has a payout ratio of 55.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sonoco Products to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 45.2%.
Sonoco Products (SON) opened at $48.59 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.74. Sonoco Products has a fifty-two week low of $47.10 and a fifty-two week high of $55.77. The stock has a market cap of $4,883.57, a P/E ratio of 17.67, a PEG ratio of 3.30 and a beta of 1.12.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Sonoco Products had a return on equity of 16.63% and a net margin of 3.48%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. research analysts forecast that Sonoco Products will post 3.19 EPS for the current fiscal year.
SON has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Friday, January 12th. Robert W. Baird restated a “buy” rating and issued a $60.00 target price on shares of Sonoco Products in a report on Friday, November 10th. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Barclays upgraded shares of Sonoco Products from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $49.00 to $55.00 in a report on Friday, December 15th. Finally, TheStreet cut shares of Sonoco Products from a “b” rating to a “c+” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $53.43.
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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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