Sonoco Products Co (NYSE:SON) announced a quarterly dividend on Wednesday, July 15th, RTT News reports. Investors of record on Monday, August 10th will be given a dividend of 0.43 per share by the industrial products company on Thursday, September 10th. This represents a $1.72 annualized dividend and a yield of 3.21%.
Sonoco Products has increased its dividend by an average of 16.4% per year over the last three years and has raised its dividend annually for the last 39 consecutive years. Sonoco Products has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sonoco Products to earn $3.42 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 50.3%.
SON opened at $53.58 on Thursday. The business’s 50-day simple moving average is $51.88 and its 200 day simple moving average is $51.92. The firm has a market capitalization of $5.25 billion, a PE ratio of 18.22, a PEG ratio of 3.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.11. Sonoco Products has a 52-week low of $37.30 and a 52-week high of $64.67.
Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, April 16th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sonoco Products had a return on equity of 20.13% and a net margin of 5.61%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, research analysts forecast that Sonoco Products will post 3.24 earnings per share for the current year.
A number of equities analysts have weighed in on SON shares. TheStreet raised Sonoco Products from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. Deutsche Bank lowered their price target on Sonoco Products from $61.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, April 16th. Robert W. Baird decreased their target price on Sonoco Products from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Wells Fargo & Co raised Sonoco Products from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $48.00 to $60.00 in a research report on Thursday, May 21st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Sonoco Products has a consensus rating of “Hold” and a consensus price target of $54.57.
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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