Sonoco Products (NYSE:SON - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.250-1.350 for the period, compared to the consensus estimate of 1.300. The company issued revenue guidance of -. Sonoco Products also updated its FY 2024 guidance to 5.000-5.300 EPS.
Sonoco Products Stock Performance
Shares of NYSE SON traded down $1.23 during trading on Tuesday, reaching $56.03. 515,877 shares of the company traded hands, compared to its average volume of 431,165. Sonoco Products has a 12-month low of $49.98 and a 12-month high of $63.74. The company has a current ratio of 1.76, a quick ratio of 1.10 and a debt-to-equity ratio of 1.25. The stock has a market cap of $5.50 billion, a P/E ratio of 11.67, a PEG ratio of 2.17 and a beta of 0.68. The firm's fifty day simple moving average is $56.96 and its 200 day simple moving average is $55.98.
Sonoco Products (NYSE:SON - Get Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.07. Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's quarterly revenue was down 5.3% on a year-over-year basis. As a group, research analysts anticipate that Sonoco Products will post 5.21 earnings per share for the current fiscal year.
Sonoco Products Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This is a positive change from Sonoco Products's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.71%. Sonoco Products's dividend payout ratio (DPR) is 42.50%.
Analyst Upgrades and Downgrades
SON has been the topic of several research analyst reports. Citigroup lowered their price objective on Sonoco Products from $66.00 to $65.00 and set a buy rating on the stock in a report on Thursday, April 4th. TheStreet cut Sonoco Products from a b- rating to a c+ rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company reduced their price objective on Sonoco Products from $58.00 to $56.00 and set an equal weight rating for the company in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $63.00.
View Our Latest Report on Sonoco Products
Insider Buying and Selling at Sonoco Products
In related news, VP Adam Wood sold 537 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the sale, the vice president now directly owns 28,273 shares in the company, valued at approximately $1,612,691.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sonoco Products news, VP Adam Wood sold 537 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total value of $30,630.48. Following the sale, the vice president now owns 28,273 shares of the company's stock, valued at $1,612,691.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total value of $604,065.00. Following the transaction, the insider now owns 13,456 shares of the company's stock, valued at $774,123.68. The disclosure for this sale can be found here. Insiders have sold 13,076 shares of company stock worth $749,002 over the last quarter. 0.51% of the stock is currently owned by company insiders.
Sonoco Products Company Profile
(
Get Free Report)
Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.
Further Reading
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