Equities Analysts Set Expectations for Sonoco Products Co’s FY2019 Earnings (SON)

Sonoco Products Co (NYSE:SON) – Equities researchers at KeyCorp raised their FY2019 earnings estimates for shares of Sonoco Products in a note issued to investors on Wednesday, April 10th. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $3.50 per share for the year, up from their prior estimate of $3.47. KeyCorp currently has a “Hold” rating on the stock.

Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, February 14th. The industrial products company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $0.72 EPS. Sonoco Products’s revenue for the quarter was up 4.7% on a year-over-year basis.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Wednesday, December 19th. Wells Fargo & Co reissued a “hold” rating on shares of Sonoco Products in a research report on Thursday, February 14th. Finally, Vertical Research cut Sonoco Products from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.50.

NYSE SON opened at $61.25 on Monday. Sonoco Products has a one year low of $49.71 and a one year high of $62.96. The stock has a market capitalization of $6.26 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 3.82 and a beta of 1.01. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.67.

In other news, SVP Kevin P. Mahoney sold 1,119 shares of Sonoco Products stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $59.57, for a total transaction of $66,658.83. Following the transaction, the senior vice president now directly owns 2,295 shares of the company’s stock, valued at approximately $136,713.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP R. Howard Coker sold 6,474 shares of Sonoco Products stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $59.78, for a total value of $387,015.72. Following the transaction, the senior vice president now directly owns 212,341 shares in the company, valued at $12,693,744.98. The disclosure for this sale can be found here. Insiders sold 20,829 shares of company stock worth $1,245,466 over the last three months. Insiders own 1.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of SON. Oregon Public Employees Retirement Fund lifted its position in shares of Sonoco Products by 5,213.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock valued at $39,000 after buying an additional 2,027,805 shares in the last quarter. Norges Bank purchased a new position in shares of Sonoco Products during the 4th quarter valued at about $55,542,000. BlackRock Inc. lifted its position in shares of Sonoco Products by 3.1% during the 4th quarter. BlackRock Inc. now owns 11,331,928 shares of the industrial products company’s stock valued at $602,065,000 after buying an additional 336,758 shares in the last quarter. Morgan Stanley lifted its holdings in Sonoco Products by 82.9% in 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 in the last quarter. Finally, APG Asset Management N.V. purchased a new position in Sonoco Products in the 4th quarter worth approximately $14,338,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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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