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

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

Several analysts have recently issued reports on the stock. Wells Fargo & Co set a $58.00 target price on shares of Sonoco Products and gave the stock a hold rating in a research note on Monday, April 22nd. BMO Capital Markets set a $76.00 target price on shares of Gilead Sciences and gave the stock a buy rating in a research note on Monday, July 15th. ValuEngine lowered shares of United Rentals from a sell rating to a strong sell rating in a research report on Thursday. Argus upgraded shares of Sonoco Products from a hold rating to a buy rating and set a $68.00 price target for the company in a research report on Wednesday, April 24th. Finally, Vertical Research lowered shares of Sonoco Products from a hold rating to a sell rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $59.17.

SON opened at $60.92 on Friday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 3.64 and a beta of 0.94. The firm’s 50-day moving average is $64.79. 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 fifty-two week low of $50.30 and a fifty-two week high of $66.57.



Sonoco Products (NYSE:SON) last posted its quarterly earnings results 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 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%. Sonoco Products’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Equities analysts predict that Sonoco Products will post 3.57 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given 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 currently 51.04%.

In other Sonoco Products news, SVP Rodger D. Fuller sold 5,085 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $60.25, for a total transaction of $306,371.25. Following the sale, the senior vice president now directly owns 72,978 shares of the company’s stock, valued at $4,396,924.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP R. Howard Coker sold 6,484 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $61.94, for a total transaction of $401,618.96. Following the sale, the senior vice president now directly owns 215,108 shares in the company, valued at $13,323,789.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,381 shares of company stock valued at $758,537. 1.30% of the stock is owned by company 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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