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

Sonoco Products (NYSE:SON) updated its first quarter 2020
Pre-Market earnings guidance on Thursday. 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.

A number of research firms have weighed in on SON. KeyCorp reissued a hold rating on shares of Sonoco Products in a research note on Thursday. Robert W. Baird lowered shares of Sonoco Products from an outperform rating to a neutral rating and set a $65.00 target price on the stock. in a research note on Tuesday, January 7th. ValuEngine raised shares of Sonoco Products from a sell rating to a hold rating in a research note on Friday, November 1st. Vertical Research raised shares of Sonoco Products from a sell rating to a hold rating in a research note on Friday, October 18th. Finally, Vertical Group raised shares of Sonoco Products from a sell rating to a hold rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $61.20.

Shares of SON stock traded down $0.81 during trading on Friday, hitting $56.80. 529,452 shares of the stock traded hands, compared to its average volume of 408,119. The firm has a market capitalization of $5.64 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 3.43 and a beta of 0.93. 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’s fifty day moving average price is $58.97 and its 200-day moving average price is $58.72. Sonoco Products has a 52-week low of $55.12 and a 52-week high of $66.57.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.34 billion. Sonoco Products had a net margin of 5.99% and a return on equity of 20.08%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. As a group, equities research analysts expect that Sonoco Products will post 3.53 earnings per share for the current year.

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

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