Sonoco Products (SON) Releases FY19 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $3.47-3.57 for the period, compared to the Thomson Reuters consensus estimate of $3.51. Sonoco Products also updated its Q4 guidance to $0.75-0.85 EPS.

Shares of Sonoco Products stock opened at $56.47 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.19 and a debt-to-equity ratio of 0.72. Sonoco Products has a twelve month low of $46.55 and a twelve month high of $58.69. The stock has a market cap of $5.74 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 3.71 and a beta of 1.00.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 18th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Sonoco Products had a net margin of 4.53% and a return on equity of 18.42%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts forecast that Sonoco Products will post 3.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 8th. Sonoco Products’s dividend payout ratio is 58.78%.

SON has been the subject of several research analyst reports. KeyCorp reiterated a hold rating on shares of Sonoco Products in a report on Thursday, October 18th. Zacks Investment Research upgraded shares of Sonoco Products from a sell rating to a hold rating in a research note on Thursday, October 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Sonoco Products presently has an average rating of Hold and a consensus price target of $58.80.

In other Sonoco Products news, VP James A. Harrell III sold 734 shares of the business’s 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 completion of the sale, the vice president now owns 13,881 shares in the company, valued at $791,217. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marcy J. Thompson sold 693 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $55.00, for a total value of $38,115.00. Following the completion of the sale, the vice president now owns 15,410 shares of the company’s stock, valued at approximately $847,550. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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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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Earnings History and Estimates for Sonoco Products (NYSE:SON)

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