Sonoco Products (NYSE:SON) updated its FY 2019 earnings guidance on Thursday. 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.
Several analysts have recently issued reports on the company. Vertical Research cut Sonoco Products from a hold rating to a sell rating in a report on Tuesday, April 16th. Goldman Sachs Group cut Metcash from a conviction-buy rating to a neutral rating in a report on Monday, June 24th. BMO Capital Markets set a $76.00 price target on Gilead Sciences and gave the company a buy rating in a report on Monday. ValuEngine lowered United Rentals from a sell rating to a strong sell rating in a report on Thursday. Finally, Bank of America set a $80.00 price target on Colgate-Palmolive and gave the company a buy rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Sonoco Products currently has a consensus rating of Hold and an average target price of $58.86.
NYSE:SON opened at $61.65 on Friday. The firm’s fifty day moving average is $64.82. Sonoco Products has a fifty-two week low of $50.30 and a fifty-two week high of $66.57. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.80 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.66.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.02). Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Sonoco Products will post 3.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid 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 yield of 2.79%. Sonoco Products’s payout ratio is 51.04%.
In other news, SVP R. Howard Coker sold 6,484 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total transaction of $401,618.96. Following the transaction, the senior vice president now owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Roger P. Schrum sold 812 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the transaction, 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 quarter, insiders sold 12,381 shares of company stock worth $758,537. 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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