Sonoco Products Company (NYSE:SON) released its quarterly earnings data on Thursday. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02, Bloomberg Earnings reports. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Sonoco Products updated its Q4 guidance to $0.68-0.74 EPS.
Sonoco Products (NYSE:SON) opened at 52.03 on Friday. Sonoco Products has a 1-year low of $47.10 and a 1-year high of $55.58. The stock has a market cap of $5.17 billion, a P/E ratio of 19.75 and a beta of 1.13. The company’s 50-day moving average price is $49.87 and its 200-day moving average price is $50.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.56 dividend on an annualized basis and a yield of 3.00%. Sonoco Products’s dividend payout ratio is presently 59.09%.
A number of research analysts have recently commented on the company. Bank of America Corporation upgraded Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, September 6th. Robert W. Baird upgraded Sonoco Products from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $60.00 in a report on Wednesday, July 19th. Vertical Research upgraded Sonoco Products from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $48.00 price objective on shares of Sonoco Products in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $51.83.
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In related news, VP Marcy J. Thompson sold 565 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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