Sonoco Products (NYSE:SON) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.52-3.62 for the period, compared to the Thomson Reuters consensus estimate of $3.58. Sonoco Products also updated its FY19 guidance to $3.52-3.62 EPS.
SON opened at $60.92 on Friday. Sonoco Products has a fifty-two week low of $50.30 and a fifty-two week high of $66.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.24 and a quick ratio of 0.91. The business’s fifty day simple moving average is $64.79. The firm has a market capitalization of $6.17 billion, a P/E ratio of 17.61, a P/E/G ratio of 3.68 and a beta of 0.94.
Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts forecast that Sonoco Products will post 3.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, August 8th. This represents a $1.72 dividend on an annualized basis and a yield of 2.82%. Sonoco Products’s dividend payout ratio is currently 51.04%.
A number of brokerages have issued reports on SON. Vertical Research cut Sonoco Products from a hold rating to a sell rating in a report on Tuesday, April 16th. Argus raised Sonoco Products from a hold rating to a buy rating and set a $68.00 price objective for the company in a report on Wednesday, April 24th. ValuEngine cut United Rentals from a sell rating to a strong sell rating in a report on Thursday. KeyCorp reissued a hold rating on shares of Sonoco Products in a report on Thursday. Finally, Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the company a buy rating in a report on Friday, July 12th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $58.86.
In related news, VP Roger P. Schrum sold 812 shares of Sonoco Products stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the completion of the transaction, the vice president now directly owns 7,938 shares of the company’s stock, valued at $494,140.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP R. Howard Coker sold 6,484 shares of Sonoco Products stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $61.94, for a total value of $401,618.96. Following the completion of the transaction, the senior vice president now directly owns 215,108 shares of the company’s stock, valued at $13,323,789.52. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock valued at $758,537 over the last ninety days. 1.30% of the stock is currently owned by company insiders.
Sonoco Products Company Profile
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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