Equities research analysts expect Sonoco (NYSE:SON) to post sales of $1.35 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Sonoco’s earnings, with estimates ranging from $1.31 billion to $1.37 billion. Sonoco reported sales of $1.24 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, July 19th.
On average, analysts expect that Sonoco will report full year sales of $5.37 billion for the current year, with estimates ranging from $5.24 billion to $5.48 billion. For the next financial year, analysts expect that the firm will report sales of $5.46 billion per share, with estimates ranging from $5.24 billion to $5.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Sonoco.
Sonoco (NYSE:SON) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Sonoco had a net margin of 3.48% and a return on equity of 16.63%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business earned $0.62 earnings per share. Sonoco’s quarterly revenue was up 13.7% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on SON shares. Zacks Investment Research downgraded shares of Sonoco from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. TheStreet downgraded shares of Sonoco from a “b” rating to a “c+” rating in a research note on Friday, February 16th. Vertical Research upgraded shares of Sonoco from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. Bank of America downgraded shares of Sonoco from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research note on Monday, April 2nd. Finally, UBS started coverage on shares of Sonoco in a research note on Friday, April 13th. They issued a “buy” rating and a $55.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Sonoco has a consensus rating of “Hold” and a consensus target price of $53.88.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Sonoco by 0.5% during the 4th quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock worth $574,293,000 after buying an additional 50,184 shares during the period. First Trust Advisors LP boosted its position in Sonoco by 12.3% during the 4th quarter. First Trust Advisors LP now owns 775,642 shares of the industrial products company’s stock worth $41,218,000 after buying an additional 84,665 shares during the period. Capital Analysts LLC acquired a new stake in Sonoco during the 4th quarter worth approximately $7,752,000. MAI Capital Management acquired a new stake in Sonoco during the 4th quarter worth approximately $215,000. Finally, California Public Employees Retirement System boosted its position in Sonoco by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 254,300 shares of the industrial products company’s stock worth $12,829,000 after buying an additional 8,250 shares during the period. Institutional investors and hedge funds own 70.83% of the company’s stock.
Shares of SON traded up $0.24 during mid-day trading on Tuesday, reaching $51.30. The company had a trading volume of 241,066 shares, compared to its average volume of 515,927. Sonoco has a 1-year low of $46.55 and a 1-year high of $55.77. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.74. The company has a market cap of $4,967.40, a P/E ratio of 18.41, a PEG ratio of 3.33 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 11th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, May 10th. This is an increase from Sonoco’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a yield of 3.20%. Sonoco’s dividend payout ratio (DPR) is currently 55.91%.
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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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