Sonoco Products (NYSE:SON) Issues Q3 2019 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $0.88-0.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.92. Sonoco Products also updated its FY 2019 guidance to $3.52-3.62 EPS.

Shares of NYSE SON opened at $60.92 on Friday. The firm has a market cap of $6.17 billion, a PE ratio of 18.08, a PEG ratio of 3.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.24 and a quick ratio of 0.91. The firm has a fifty day moving average of $64.79. Sonoco Products has a fifty-two week low of $50.30 and a fifty-two week high of $66.57.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.02). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.42 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 19.55%. Sonoco Products’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, equities research analysts expect that Sonoco Products will post 3.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $0.43 dividend. The ex-dividend date is Thursday, August 8th. This represents a $1.72 annualized dividend and a yield of 2.82%. Sonoco Products’s dividend payout ratio is presently 51.04%.

SON has been the subject of a number of research analyst reports. Wells Fargo & Co set a $58.00 price target on Sonoco Products and gave the stock a hold rating in a report on Monday, April 22nd. Goldman Sachs Group cut Metcash from a conviction-buy rating to a neutral rating in a report on Monday, June 24th. BMO Capital Markets set a $76.00 price target on Gilead Sciences and gave the stock a buy rating in a report on Monday, July 15th. Argus raised Sonoco Products from a hold rating to a buy rating and set a $68.00 price target for the company in a report on Wednesday, April 24th. Finally, Bank of America set a $80.00 price target on Colgate-Palmolive and gave the stock a buy rating in a report on Friday, July 12th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $58.86.

In other Sonoco Products news, SVP R. Howard Coker sold 6,484 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the completion of the transaction, the senior vice president now owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Roger P. Schrum sold 812 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the completion of the transaction, the vice president now directly owns 7,938 shares of the company’s stock, valued at approximately $494,140.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock valued at $758,537 in the last three months. 1.30% of the stock is owned by insiders.

About Sonoco Products

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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