Analysts expect Sonoco Products Co (NYSE:SON) to report sales of $1.34 billion for the current quarter, Zacks reports. Five analysts have made estimates for Sonoco Products’ earnings, with the highest sales estimate coming in at $1.38 billion and the lowest estimate coming in at $1.30 billion. Sonoco Products posted sales of $1.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, July 19th.
According to Zacks, analysts expect that Sonoco Products will report full-year sales of $5.40 billion for the current fiscal year, with estimates ranging from $5.33 billion to $5.48 billion. For the next financial year, analysts anticipate that the business will post sales of $5.53 billion per share, with estimates ranging from $5.36 billion to $5.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Sonoco Products.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, April 19th. The industrial products company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Sonoco Products had a net margin of 3.79% and a return on equity of 17.02%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year.
Several equities analysts have issued reports on SON shares. TheStreet upgraded shares of Sonoco Products from a “c+” rating to a “b” rating in a research report on Thursday, April 19th. UBS Group started coverage on shares of Sonoco Products in a research report on Friday, April 13th. They issued a “buy” rating and a $55.00 price target for the company. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, May 17th. Vertical Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. Finally, KeyCorp restated a “hold” rating on shares of Sonoco Products in a research report on Thursday, April 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.29.
In other news, SVP Rodger D. Fuller sold 13,974 shares of the stock in a transaction on Friday, April 20th. The shares were sold at an average price of $51.05, for a total transaction of $713,372.70. Following the completion of the sale, the senior vice president now directly owns 72,174 shares in the company, valued at $3,684,482.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Roger P. Schrum sold 1,067 shares of the firm’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $53.00, for a total transaction of $56,551.00. Following the completion of the sale, the vice president now owns 11,111 shares of the company’s stock, valued at $588,883. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,699 shares of company stock valued at $1,276,076. 1.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of SON. Millennium Management LLC grew its holdings in Sonoco Products by 5,649.3% in the first quarter. Millennium Management LLC now owns 756,841 shares of the industrial products company’s stock worth $36,707,000 after purchasing an additional 743,677 shares during the period. American Century Companies Inc. grew its holdings in Sonoco Products by 23.5% in the first quarter. American Century Companies Inc. now owns 3,169,523 shares of the industrial products company’s stock worth $153,722,000 after purchasing an additional 603,889 shares during the period. Victory Capital Management Inc. grew its holdings in Sonoco Products by 16,955.9% in the first quarter. Victory Capital Management Inc. now owns 300,866 shares of the industrial products company’s stock worth $14,592,000 after purchasing an additional 299,102 shares during the period. Prudential Financial Inc. grew its holdings in Sonoco Products by 310.4% in the first quarter. Prudential Financial Inc. now owns 387,583 shares of the industrial products company’s stock worth $18,798,000 after purchasing an additional 293,140 shares during the period. Finally, LSV Asset Management grew its holdings in Sonoco Products by 32.0% in the first quarter. LSV Asset Management now owns 742,000 shares of the industrial products company’s stock worth $35,986,000 after purchasing an additional 180,000 shares during the period. Institutional investors and hedge funds own 69.43% of the company’s stock.
NYSE SON traded down $0.07 on Monday, hitting $51.69. The company’s stock had a trading volume of 13,552 shares, compared to its average volume of 437,323. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.16 and a current ratio of 1.61. Sonoco Products has a 1-year low of $46.55 and a 1-year high of $55.77. The stock has a market cap of $5.15 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 3.37 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 11th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, May 10th. This is a boost from Sonoco Products’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 3.17%. Sonoco Products’s dividend payout ratio is 58.78%.
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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