Sonoco Products (NYSE:SON) Releases FY19 Earnings Guidance

Sonoco Products (NYSE:SON) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.52-3.62 for the period, compared to the Thomson Reuters consensus estimate of $3.58. Sonoco Products also updated its FY 2019 guidance to $3.52-3.62 EPS.

A number of equities analysts recently commented on the company. ValuEngine downgraded United Rentals from a sell rating to a strong sell rating in a research note on Thursday. KeyCorp restated a hold rating on shares of Sonoco Products in a research note on Thursday. Vertical Research downgraded Sonoco Products from a hold rating to a sell rating in a research note on Tuesday, April 16th. Wells Fargo & Co set a $58.00 target price on Sonoco Products and gave the company a hold rating in a research note on Monday, April 22nd. Finally, Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a buy rating in a research note on Friday, July 12th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Sonoco Products has a consensus rating of Hold and an average target price of $58.86.

SON opened at $60.92 on Friday. The company’s 50 day simple moving average is $64.79. The company has a market capitalization 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 quick ratio of 0.91 and a current ratio of 1.24. Sonoco Products has a twelve month low of $50.30 and a twelve month high of $66.57.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.42 billion. Sonoco Products had a net margin of 5.61% and a return on equity of 19.55%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, equities analysts forecast that Sonoco Products will post 3.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued 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%.

In related news, SVP Rodger D. Fuller sold 5,085 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $60.25, for a total transaction of $306,371.25. Following the sale, the senior vice president now owns 72,978 shares of the company’s stock, valued at $4,396,924.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP R. Howard Coker sold 6,484 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $61.94, for a total value of $401,618.96. Following the sale, the senior vice president now directly owns 215,108 shares in the company, valued at approximately $13,323,789.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,381 shares of company stock worth $758,537. 1.30% of the stock is owned by corporate 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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