Sonoco Products (NYSE:SON) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.75-0.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.79. Sonoco Products also updated its FY19 guidance to $3.47-3.57 EPS.
Several analysts have issued reports on the company. Zacks Investment Research raised Sonoco Products from a hold rating to a buy rating and set a $65.00 target price for the company in a research note on Tuesday, September 18th. KeyCorp reaffirmed a hold rating on shares of Sonoco Products in a research note on Thursday, October 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Sonoco Products has a consensus rating of Hold and an average target price of $58.80.
Shares of SON opened at $56.09 on Friday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.64 and a beta of 1.00. The company has a quick ratio of 1.19, a current ratio of 1.66 and a debt-to-equity ratio of 0.72. Sonoco Products has a 1 year low of $46.55 and a 1 year high of $58.69.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.06. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Sonoco Products had a return on equity of 18.42% and a net margin of 4.53%. Sonoco Products’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Sell-side analysts anticipate that Sonoco Products will post 3.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, November 8th. Sonoco Products’s dividend payout ratio is currently 58.78%.
In other news, VP Marcy J. Thompson sold 693 shares of the stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $55.00, for a total transaction of $38,115.00. Following the completion of the sale, the vice president now owns 15,410 shares of the company’s stock, valued at $847,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James A. Harrell III sold 734 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $57.00, for a total value of $41,838.00. Following the sale, the vice president now directly owns 13,881 shares of the company’s stock, valued at approximately $791,217. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
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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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