Sonoco Products (NYSE:SON) updated its fourth quarter 2018 earnings guidance on Thursday. The company provided EPS guidance of $0.75-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.80. Sonoco Products also updated its FY 2018 guidance to $3.28-3.34 EPS.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Sonoco Products from a hold rating to a buy rating and set a $63.00 price objective on the stock in a report on Wednesday, August 1st. DA Davidson boosted their price objective on shares of Sonoco Products to $57.00 and gave the stock a neutral rating in a report on Friday, July 20th. KeyCorp restated a hold rating on shares of Sonoco Products in a report on Thursday. Finally, Barclays boosted their price objective on shares of Sonoco Products from $55.00 to $58.00 and gave the stock a $56.02 rating in a report on Monday, July 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $59.00.
NYSE:SON opened at $55.55 on Friday. Sonoco Products has a 52-week low of $46.55 and a 52-week high of $58.69. The company has a current ratio of 1.66, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.48 billion, a PE ratio of 19.91, a P/E/G ratio of 3.57 and a beta of 1.07.
Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Sonoco Products had a net margin of 4.53% and a return on equity of 18.42%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Sonoco Products will post 3.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.64 annualized dividend and a dividend yield of 2.95%. Sonoco Products’s dividend payout ratio (DPR) is currently 58.78%.
In other news, SVP Kevin P. Mahoney sold 1,138 shares of Sonoco Products stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $56.11, for a total transaction of $63,853.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Barry L. Saunders sold 6,580 shares of Sonoco Products stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $55.85, for a total transaction of $367,493.00. Following the sale, the chief financial officer now owns 91,181 shares in the company, valued at $5,092,458.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,602 shares of company stock worth $536,285. 1.70% of the stock is owned by company insiders.
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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