Sonoco Products (NYSE:SON) Updates 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 guidance of $0.88-0.94 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.92. Sonoco Products also updated its FY 2019 guidance to $3.52-3.62 EPS.

A number of equities research analysts recently issued reports on the stock. KeyCorp restated a hold rating on shares of Sonoco Products in a report on Thursday. Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the company a buy rating in a report on Friday, July 12th. Goldman Sachs Group downgraded shares of Metcash from a conviction-buy rating to a neutral rating in a report on Monday, June 24th. Wells Fargo & Co set a $58.00 target price on shares of Sonoco Products and gave the company a hold rating in a report on Monday, April 22nd. Finally, Argus upgraded shares of Sonoco Products from a hold rating to a buy rating and set a $68.00 target price for the company in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Sonoco Products has a consensus rating of Hold and an average target price of $58.86.

Sonoco Products stock traded down $0.44 during trading on Friday, reaching $61.21. The company had a trading volume of 189,660 shares, compared to its average volume of 397,743. Sonoco Products has a 12-month low of $50.30 and a 12-month high of $66.57. The business’s 50 day moving average price is $64.82. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.80 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 1.36 and a debt-to-equity ratio of 0.66.



Sonoco Products (NYSE:SON) last released its earnings results on Thursday, July 18th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Sonoco Products’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts expect that Sonoco Products will post 3.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.72 dividend on an annualized basis and a yield of 2.81%. Sonoco Products’s dividend payout ratio (DPR) is 51.04%.

In other Sonoco Products news, VP Roger P. Schrum sold 812 shares of Sonoco Products stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $62.25, for a total transaction of $50,547.00. Following the transaction, the vice president now directly owns 7,938 shares of the company’s stock, valued at $494,140.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Rodger D. Fuller sold 5,085 shares of Sonoco Products stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $60.25, for a total transaction of $306,371.25. Following the transaction, the senior vice president now directly owns 72,978 shares in the company, valued at $4,396,924.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,381 shares of company stock worth $758,537. 1.30% of the stock is currently owned by corporate insiders.

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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