Sonoco Products (SON) Posts Quarterly Earnings Results

Sonoco Products (NYSE:SON) released its quarterly earnings data on Thursday. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06, MarketWatch Earnings reports. Sonoco Products had a net margin of 4.57% and a return on equity of 18.01%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue was up 3.0% on a year-over-year basis.

Shares of NYSE:SON opened at $55.05 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. Sonoco Products has a 12 month low of $46.55 and a 12 month high of $58.69. The stock has a market capitalization of $5.25 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, November 8th. Sonoco Products’s payout ratio is 58.78%.

In related news, SVP Kevin P. Mahoney sold 1,138 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $56.11, for a total value of $63,853.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Barry L. Saunders sold 6,580 shares of the 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 completion of the transaction, the chief financial officer now directly owns 91,181 shares of the company’s stock, valued at approximately $5,092,458.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,602 shares of company stock valued at $536,285. 1.70% of the stock is owned by insiders.

A number of brokerages recently commented on SON. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a report on Thursday. Zacks Investment Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a report on Thursday. Barclays increased their price target on shares of Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a report on Monday, July 23rd. Finally, DA Davidson increased their price target on shares of Sonoco Products to $57.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.00.

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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Earnings History for Sonoco Products (NYSE:SON)

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