Sonoco (NYSE:SON) – Equities research analysts at DA Davidson increased their Q2 2018 earnings estimates for shares of Sonoco in a report released on Thursday, April 19th. DA Davidson analyst S. Chercover now forecasts that the industrial products company will post earnings of $0.87 per share for the quarter, up from their prior estimate of $0.83. DA Davidson also issued estimates for Sonoco’s Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.81 EPS, FY2018 earnings at $3.29 EPS and FY2019 earnings at $3.54 EPS.
Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Sonoco from a “b” rating to a “c+” rating in a research report on Friday, February 16th. KeyCorp restated a “hold” rating on shares of Sonoco in a research report on Thursday, April 19th. Zacks Investment Research lowered shares of Sonoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Bank of America lowered shares of Sonoco from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Monday, April 2nd. Finally, UBS assumed coverage on shares of Sonoco in a research report on Friday, April 13th. They issued a “buy” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.86.
Shares of NYSE:SON opened at $51.74 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.61 and a quick ratio of 1.16. The stock has a market cap of $5,148.47, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 3.37 and a beta of 1.12. Sonoco has a twelve month low of $46.55 and a twelve month high of $55.77.
Sonoco (NYSE:SON) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco had a return on equity of 17.02% and a net margin of 3.79%. Sonoco’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 11th will be given a $0.41 dividend. This is a positive change from Sonoco’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, May 10th. Sonoco’s dividend payout ratio (DPR) is 55.91%.
In other Sonoco news, SVP Rodger D. Fuller sold 13,974 shares of Sonoco stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP R. Howard Coker sold 4,777 shares of Sonoco stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $52.00, for a total transaction of $248,404.00. Following the sale, the senior vice president now owns 173,311 shares of the company’s stock, valued at $9,012,172. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Sonoco by 0.5% during the fourth quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock valued at $574,293,000 after purchasing an additional 50,184 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Sonoco by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,372,193 shares of the industrial products company’s stock valued at $72,919,000 after purchasing an additional 8,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Sonoco by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,279,308 shares of the industrial products company’s stock valued at $64,540,000 after purchasing an additional 36,612 shares during the last quarter. Geode Capital Management LLC lifted its position in Sonoco by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 840,649 shares of the industrial products company’s stock valued at $44,672,000 after purchasing an additional 21,272 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Sonoco by 12.3% during the fourth quarter. First Trust Advisors LP now owns 775,642 shares of the industrial products company’s stock valued at $41,218,000 after purchasing an additional 84,665 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.
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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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