Sonoco Products (NYSE:SON) Releases Q3 2019 Earnings Guidance

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

A number of research analysts have recently commented on the stock. Wells Fargo & Co set a $58.00 price objective on shares of Sonoco Products and gave the company a hold rating in a research report on Monday, April 22nd. Bank of America set a $80.00 price objective on shares of Colgate-Palmolive and gave the company a buy rating in a research report on Friday, July 12th. KeyCorp reissued a hold rating on shares of Sonoco Products in a research report on Thursday. BMO Capital Markets set a $76.00 price objective on shares of Gilead Sciences and gave the company a buy rating in a research report on Monday, July 15th. Finally, Goldman Sachs Group downgraded shares of Metcash from a conviction-buy rating to a neutral rating in a research report on Monday, June 24th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $59.17.

NYSE SON opened at $60.92 on Friday. The business’s 50-day moving average is $64.79. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6.09 billion, a PE ratio of 17.41, a PEG ratio of 3.64 and a beta of 0.94. Sonoco Products has a 52-week low of $50.30 and a 52-week high of $66.57.

Sonoco Products (NYSE:SON) last posted 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). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.42 billion. Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. On average, equities analysts anticipate that Sonoco Products will post 3.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Thursday, August 8th. Sonoco Products’s dividend payout ratio is presently 51.04%.

In other Sonoco Products news, SVP Rodger D. Fuller sold 5,085 shares of Sonoco Products stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $60.25, for a total value of $306,371.25. Following the completion of the sale, the senior vice president now owns 72,978 shares in the company, valued at approximately $4,396,924.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roger P. Schrum sold 812 shares of Sonoco Products stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total transaction of $50,547.00. Following the completion of the sale, the vice president now owns 7,938 shares of the company’s stock, valued at approximately $494,140.50. 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 currently 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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