Zacks: Analysts Anticipate Sonoco Products Co (SON) to Announce $0.79 EPS

Analysts expect Sonoco Products Co (NYSE:SON) to report $0.79 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sonoco Products’ earnings, with the highest EPS estimate coming in at $0.81 and the lowest estimate coming in at $0.77. Sonoco Products posted earnings of $0.72 per share during the same quarter last year, which suggests a positive year over year growth rate of 9.7%. The firm is expected to report its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that Sonoco Products will report full-year earnings of $3.32 per share for the current year, with EPS estimates ranging from $3.31 to $3.34. For the next financial year, analysts anticipate that the firm will report earnings of $3.52 per share, with EPS estimates ranging from $3.45 to $3.60. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Sonoco Products.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. Sonoco Products had a return on equity of 18.42% and a net margin of 4.53%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis.

A number of research firms have recently issued reports on SON. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Wednesday, August 1st. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research report on Thursday, October 18th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $58.80.

Shares of SON traded up $0.51 during mid-day trading on Friday, reaching $56.74. The company’s stock had a trading volume of 119,429 shares, compared to its average volume of 492,041. Sonoco Products has a 1-year low of $46.55 and a 1-year high of $58.69. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 3.63 and a beta of 0.98. The company has a quick ratio of 1.19, a current ratio of 1.66 and a debt-to-equity ratio of 0.72.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.89%. Sonoco Products’s payout ratio is 58.78%.

In related news, VP Marcy J. Thompson sold 693 shares of Sonoco Products stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $55.00, for a total transaction of $38,115.00. Following the completion of the sale, the vice president now directly owns 15,410 shares of the company’s stock, valued at approximately $847,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James A. Harrell III sold 734 shares of Sonoco Products stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $57.00, for a total value of $41,838.00. Following the sale, the vice president now directly owns 13,881 shares of the company’s stock, valued at $791,217. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Sonoco Products by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,461,054 shares of the industrial products company’s stock worth $525,089,000 after purchasing an additional 149,108 shares during the last quarter. Morgan Stanley lifted its holdings in Sonoco Products by 82.9% during the 3rd quarter. Morgan Stanley now owns 689,382 shares of the industrial products company’s stock worth $38,261,000 after purchasing an additional 312,414 shares during the last quarter. Legal & General Group Plc lifted its holdings in Sonoco Products by 3.0% during the 3rd quarter. Legal & General Group Plc now owns 151,244 shares of the industrial products company’s stock worth $8,394,000 after purchasing an additional 4,338 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Sonoco Products by 130.7% during the 3rd quarter. Nordea Investment Management AB now owns 319,828 shares of the industrial products company’s stock worth $17,751,000 after purchasing an additional 181,167 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Sonoco Products by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 122,120 shares of the industrial products company’s stock worth $6,778,000 after purchasing an additional 8,598 shares during the last quarter. 71.31% of the stock is owned by institutional investors and hedge funds.

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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