Equities research analysts expect Sonoco Products (NYSE:SON) to announce sales of $1.43 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Sonoco Products' earnings. The highest sales estimate is $1.46 billion and the lowest is $1.40 billion. Sonoco Products posted sales of $1.38 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The business is expected to issue its next quarterly earnings results on Thursday, February 10th.
On average, analysts expect that Sonoco Products will report full year sales of $5.58 billion for the current financial year, with estimates ranging from $5.55 billion to $5.61 billion. For the next financial year, analysts anticipate that the firm will report sales of $6.02 billion, with estimates ranging from $5.74 billion to $6.27 billion. Zacks' sales averages are an average based on a survey of analysts that cover Sonoco Products.
Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, October 20th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.89 by $0.02. Sonoco Products had a negative net margin of 2.94% and a positive return on equity of 18.65%. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the prior year, the company posted $0.86 EPS. The company's revenue was up 7.8% on a year-over-year basis.
Separately, Bank of America lowered shares of Sonoco Products from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $64.00 to $63.00 in a research note on Thursday, October 14th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.50.
SON opened at $60.81 on Friday. Sonoco Products has a twelve month low of $57.21 and a twelve month high of $69.83. The company has a quick ratio of 0.79, a current ratio of 1.19 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $60.53 and a 200-day moving average of $63.85. The stock has a market cap of $5.98 billion, a PE ratio of -37.31, a price-to-earnings-growth ratio of 3.49 and a beta of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Wednesday, November 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.96%. Sonoco Products's payout ratio is -110.43%.
In other Sonoco Products news, VP Jeffrey S. Tomaszewski sold 1,700 shares of the business's stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of $59.36, for a total transaction of $100,912.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of SON. Gyon Technologies Capital Management LP purchased a new stake in Sonoco Products during the 3rd quarter valued at approximately $212,000. Captrust Financial Advisors lifted its position in shares of Sonoco Products by 15.3% during the third quarter. Captrust Financial Advisors now owns 8,575 shares of the industrial products company's stock worth $511,000 after purchasing an additional 1,141 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Sonoco Products by 51.2% during the third quarter. Cetera Advisors LLC now owns 90,054 shares of the industrial products company's stock worth $5,365,000 after purchasing an additional 30,508 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Sonoco Products by 9.6% during the third quarter. Cetera Advisor Networks LLC now owns 7,762 shares of the industrial products company's stock worth $462,000 after purchasing an additional 679 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Sonoco Products by 130.9% during the third quarter. Janus Henderson Group PLC now owns 17,701 shares of the industrial products company's stock valued at $1,055,000 after buying an additional 10,034 shares during the period. Institutional investors and hedge funds own 75.77% of the company's stock.
About Sonoco Products
Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging; Paper and Industrial Converted Products; Protective Solutions; and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers; fiber and plastic caulk and adhesive tubes; and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.
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