Analysts expect Sonoco Products (NYSE:SON) to report sales of $1.39 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sonoco Products’ earnings, with estimates ranging from $1.32 billion to $1.43 billion. Sonoco Products reported sales of $1.31 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 28th.
According to Zacks, analysts expect that Sonoco Products will report full year sales of $5.51 billion for the current fiscal year, with estimates ranging from $5.40 billion to $5.60 billion. For the next financial year, analysts anticipate that the business will post sales of $5.57 billion, with estimates ranging from $5.42 billion to $5.79 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Sonoco Products.
Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, July 22nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Sonoco Products had a negative net margin of 3.50% and a positive return on equity of 18.41%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $0.79 EPS. Sonoco Products’s quarterly revenue was up 11.0% compared to the same quarter last year.
In other Sonoco Products news, VP John M. Florence sold 493 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $65.32, for a total transaction of $32,202.76. Following the transaction, the vice president now owns 10,449 shares of the company’s stock, valued at approximately $682,528.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.56% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group bought a new stake in shares of Sonoco Products in the 1st quarter worth approximately $27,000. MUFG Americas Holdings Corp acquired a new stake in Sonoco Products in the 2nd quarter valued at approximately $33,000. Assetmark Inc. increased its position in Sonoco Products by 56.8% in the 2nd quarter. Assetmark Inc. now owns 533 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 193 shares during the period. Dark Forest Capital Management LP acquired a new stake in Sonoco Products in the 2nd quarter valued at approximately $37,000. Finally, Pflug Koory LLC acquired a new stake in Sonoco Products in the 2nd quarter valued at approximately $47,000. 75.87% of the stock is currently owned by institutional investors and hedge funds.
SON traded up $0.17 on Friday, reaching $62.32. The company’s stock had a trading volume of 394 shares, compared to its average volume of 395,655. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of -32.20, a price-to-earnings-growth ratio of 3.53 and a beta of 0.83. Sonoco Products has a 1 year low of $48.20 and a 1 year high of $69.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 0.81. The business’s 50 day moving average is $64.69 and its 200 day moving average is $65.18.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Monday, August 9th. Sonoco Products’s dividend payout ratio is presently 52.79%.
Sonoco Products Company Profile
Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging; Paper and Industrial Converted Products; Protective Solutions; and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers; fiber and plastic caulk and adhesive tubes; and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.
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