Sonoco Products (NYSE:SON) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $3.52-3.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.58. Sonoco Products also updated its FY 2019 guidance to $3.52-3.62 EPS.
A number of analysts recently issued reports on SON shares. Vertical Research cut Sonoco Products from a hold rating to a sell rating in a research report on Tuesday, April 16th. Bank of America set a $80.00 price objective on Colgate-Palmolive and gave the company a buy rating in a research report on Friday, July 12th. ValuEngine cut United Rentals from a sell rating to a strong sell rating in a research report on Thursday. BMO Capital Markets set a $76.00 price objective on Gilead Sciences and gave the company a buy rating in a research report on Monday, July 15th. Finally, Goldman Sachs Group cut Metcash from a conviction-buy rating to a neutral rating in a research report on Monday, June 24th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $59.17.
SON opened at $60.92 on Friday. The firm has a market capitalization of $6.09 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 3.64 and a beta of 0.94. Sonoco Products has a 1 year low of $50.30 and a 1 year high of $66.57. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $64.79.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.42 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 19.55%. Sonoco Products’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. As a group, research analysts forecast that Sonoco Products will post 3.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.82%. Sonoco Products’s dividend payout ratio is currently 51.04%.
In other Sonoco Products news, SVP Rodger D. Fuller sold 5,085 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was 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 owns 72,978 shares of the company’s stock, valued at $4,396,924.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP R. Howard Coker sold 6,484 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the completion of the sale, the senior vice president now directly owns 215,108 shares of the company’s stock, valued at approximately $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 in the last ninety days. Insiders own 1.30% of the company’s stock.
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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