Sonoco Products (SON) Scheduled to Post Earnings on Tuesday

Sonoco Products (NYSE:SON) is set to release its earnings data after the market closes on Tuesday, April 30th. Analysts expect Sonoco Products to post earnings of $1.08 per share for the quarter.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Sonoco Products had a return on equity of 22.42% and a net margin of 7.00%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts expect Sonoco Products to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Sonoco Products Price Performance

Shares of SON stock traded down $0.43 during mid-day trading on Thursday, hitting $56.18. The company had a trading volume of 48,647 shares, compared to its average volume of 428,475. The company has a market capitalization of $5.51 billion, a P/E ratio of 11.70, a P/E/G ratio of 2.15 and a beta of 0.68. Sonoco Products has a 52-week low of $49.98 and a 52-week high of $63.74. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.10. The stock’s 50 day moving average price is $56.94 and its 200-day moving average price is $55.90.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.52 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s payout ratio is currently 42.50%.

Insider Buying and Selling at Sonoco Products

In other Sonoco Products news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.53, for a total value of $604,065.00. Following the completion of the sale, the insider now directly owns 13,456 shares in the company, valued at $774,123.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jeffrey S. Tomaszewski sold 10,500 shares of Sonoco Products stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.53, for a total value of $604,065.00. Following the sale, the insider now owns 13,456 shares of the company’s stock, valued at approximately $774,123.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $56.06, for a total value of $114,306.34. Following the sale, the insider now owns 11,988 shares of the company’s stock, valued at $672,047.28. The disclosure for this sale can be found here. Insiders have sold 13,076 shares of company stock worth $749,002 over the last quarter. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SON. Citigroup decreased their target price on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Wells Fargo & Company decreased their price objective on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Finally, TheStreet lowered Sonoco Products from a “b-” rating to a “c+” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.