Sonoco Products (NYSE:SON) Releases Q3 Earnings Guidance

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

SON opened at $60.92 on Friday. Sonoco Products has a 12 month low of $50.30 and a 12 month high of $66.57. The firm has a market cap of $6.17 billion, a PE ratio of 18.08, a price-to-earnings-growth 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 business’s fifty day moving average is $64.79.

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

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

SON has been the subject of several analyst reports. BMO Capital Markets set a $76.00 target price on Gilead Sciences and gave the stock a buy rating in a research note on Monday, July 15th. KeyCorp reaffirmed a hold rating on shares of Sonoco Products in a research report on Thursday. Goldman Sachs Group cut Metcash from a conviction-buy rating to a neutral rating in a research report on Monday, June 24th. ValuEngine cut United Rentals from a sell rating to a strong sell rating in a research report on Thursday. Finally, Vertical Research cut Sonoco Products from a hold rating to a sell rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Sonoco Products currently has an average rating of Hold and a consensus target price of $58.86.

In other news, SVP R. Howard Coker sold 6,484 shares of the business’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 sale, the senior vice president now directly owns 215,108 shares of the company’s stock, valued at approximately $13,323,789.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Roger P. Schrum sold 812 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total value of $50,547.00. Following the completion of the sale, the vice president now directly owns 7,938 shares of the company’s stock, valued at $494,140.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,381 shares of company stock valued at $758,537. Insiders own 1.30% of the company’s stock.

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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