Sonoco Products (NYSE:SON) updated its third quarter 2019 earnings guidance on Thursday. The company provided EPS guidance of $0.88-0.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.92. Sonoco Products also updated its FY 2019 guidance to $3.52-3.62 EPS.
SON has been the topic of a number of research analyst reports. Vertical Research lowered Sonoco Products from a hold rating to a sell rating in a research report on Tuesday, April 16th. Wells Fargo & Co set a $58.00 price target on Sonoco Products and gave the stock a hold rating in a research report on Monday, April 22nd. KeyCorp reaffirmed a hold rating on shares of Sonoco Products in a research report on Thursday. BMO Capital Markets set a $76.00 price target on Gilead Sciences and gave the stock a buy rating in a research report on Monday, July 15th. Finally, Bank of America set a $80.00 price target on Colgate-Palmolive and gave the stock a buy rating in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $58.86.
Shares of Sonoco Products stock opened at $60.92 on Friday. The company has a 50 day moving average price of $64.79. Sonoco Products has a 52-week low of $50.30 and a 52-week high of $66.57. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 3.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.91 and a current ratio of 1.24.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 18th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). Sonoco Products had a net margin of 5.61% and a return on equity of 19.55%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $0.93 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts anticipate that Sonoco Products will post 3.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Thursday, August 8th. Sonoco Products’s dividend payout ratio is presently 51.04%.
In related news, SVP Rodger D. Fuller sold 5,085 shares of Sonoco Products stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.25, for a total value of $306,371.25. Following the sale, the senior vice president now owns 72,978 shares of the company’s stock, valued at approximately $4,396,924.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Roger P. Schrum sold 812 shares of Sonoco Products stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total value of $50,547.00. Following the completion of the sale, the vice president now directly owns 7,938 shares in the company, valued at approximately $494,140.50. The disclosure for this sale can be found here. In the last three months, insiders sold 12,381 shares of company stock worth $758,537. 1.30% of the stock is owned by insiders.
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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