Sonoco Products (NYSE:SON) Issues Q1 2020 Pre-Market Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its first quarter 2020
Pre-Market earnings guidance on Thursday morning. The company provided EPS guidance of 0.83-0.89 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.85. Sonoco Products also updated its FY 2020
Pre-Market guidance to 3.60-3.70 EPS.

Shares of SON traded down $0.81 during mid-day trading on Friday, hitting $56.80. The company’s stock had a trading volume of 529,452 shares, compared to its average volume of 408,119. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $58.97 and a 200 day simple moving average of $58.72. The firm has a market capitalization of $5.64 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.43 and a beta of 0.93. Sonoco Products has a 1-year low of $55.12 and a 1-year high of $66.57.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sonoco Products had a return on equity of 20.08% and a net margin of 5.99%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. As a group, sell-side analysts predict that Sonoco Products will post 3.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 26th will be issued a $0.43 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $1.72 annualized dividend and a dividend yield of 3.03%. Sonoco Products’s dividend payout ratio is currently 51.04%.

SON has been the subject of several recent analyst reports. KeyCorp reissued a hold rating on shares of Sonoco Products in a report on Thursday. Vertical Research raised Sonoco Products from a sell rating to a hold rating in a report on Friday, October 18th. BMO Capital Markets reissued a hold rating and issued a $56.00 price target on shares of Sonoco Products in a report on Monday, December 30th. Robert W. Baird cut Sonoco Products from an outperform rating to a neutral rating and set a $65.00 price target for the company. in a report on Tuesday, January 7th. Finally, ValuEngine raised Sonoco Products from a sell rating to a hold rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Sonoco Products presently has an average rating of Hold and a consensus price target of $61.20.

In related news, VP James A. Harrell III sold 825 shares of Sonoco Products stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $60.00, for a total transaction of $49,500.00. Following the completion of the transaction, the vice president now directly owns 16,413 shares of the company’s stock, valued at $984,780. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Harold G. Cummings III sold 532 shares of Sonoco Products stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $60.52, for a total value of $32,196.64. Following the transaction, the vice president now directly owns 2,832 shares of the company’s stock, valued at $171,392.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,858 shares of company stock valued at $112,759. 1.30% of the stock is currently owned by 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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