Sonoco Products (NYSE:SON) Issues FY20 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its FY20 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.65-3.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.64. Sonoco Products also updated its Q4 guidance to $0.72-0.76 EPS.

A number of brokerages have recently commented on SON. BMO Capital Markets upgraded Sonoco Products from an underperform rating to a market perform rating and set a $56.00 price target for the company in a research note on Friday, October 18th. Robert W. Baird cut their price objective on Sonoco Products from $70.00 to $65.00 and set an outperform rating on the stock in a report on Friday, October 18th. ValuEngine upgraded Sonoco Products from a sell rating to a hold rating in a research report on Friday, November 1st. Vertical Research raised Sonoco Products from a sell rating to a hold rating in a report on Friday, October 18th. Finally, Vertical Group raised Sonoco Products from a sell rating to a hold rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Sonoco Products currently has an average rating of Hold and a consensus price target of $60.33.

SON opened at $61.52 on Friday. Sonoco Products has a fifty-two week low of $50.30 and a fifty-two week high of $66.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 0.82. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 3.76 and a beta of 0.89. The company’s 50 day moving average price is $58.81 and its two-hundred day moving average price is $60.20.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Sonoco Products had a net margin of 5.99% and a return on equity of 20.08%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. As a group, equities research analysts predict that Sonoco Products will post 3.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.72 annualized dividend and a dividend yield of 2.80%. Sonoco Products’s dividend payout ratio is 51.04%.

In related news, VP James A. Harrell III sold 825 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $60.00, for a total value of $49,500.00. Following the completion of the sale, the vice president now directly owns 16,413 shares in the company, valued at $984,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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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