$0.86 Earnings Per Share Expected for Sonoco Products Co (SON) This Quarter

Share on StockTwits

Equities analysts predict that Sonoco Products Co (NYSE:SON) will post earnings of $0.86 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Sonoco Products’ earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.88. Sonoco Products reported earnings of $0.76 per share during the same quarter last year, which indicates a positive year over year growth rate of 13.2%. The firm is scheduled to issue its next earnings report on Thursday, October 18th.

According to Zacks, analysts expect that Sonoco Products will report full year earnings of $3.34 per share for the current year, with EPS estimates ranging from $3.30 to $3.37. For the next year, analysts anticipate that the company will post earnings of $3.50 per share, with EPS estimates ranging from $3.36 to $3.60. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Sonoco Products.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. Sonoco Products had a return on equity of 18.01% and a net margin of 4.57%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $0.71 earnings per share. Sonoco Products’s revenue was up 10.1% compared to the same quarter last year.

Several equities research analysts have issued reports on SON shares. Zacks Investment Research upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday. Barclays increased their target price on Sonoco Products from $55.00 to $58.00 and gave the stock a “$56.02” rating in a research report on Monday, July 23rd. Finally, DA Davidson increased their target price on Sonoco Products to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 20th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $59.00.

In related news, VP Allan H. Mcleland sold 7,705 shares of the stock in a transaction on Friday, July 20th. The stock was sold at an average price of $56.77, for a total value of $437,412.85. Following the sale, the vice president now owns 46,575 shares in the company, valued at $2,644,062.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin P. Mahoney sold 1,138 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $56.11, for a total value of $63,853.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,133 shares of company stock worth $1,669,969. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of SON. BlackRock Inc. raised its position in Sonoco Products by 1.7% during the second quarter. BlackRock Inc. now owns 10,848,632 shares of the industrial products company’s stock valued at $569,553,000 after purchasing an additional 179,510 shares in the last quarter. Bank of America Corp DE raised its position in Sonoco Products by 5.3% during the second quarter. Bank of America Corp DE now owns 2,180,081 shares of the industrial products company’s stock valued at $114,454,000 after purchasing an additional 110,017 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Sonoco Products by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,436,571 shares of the industrial products company’s stock valued at $75,415,000 after purchasing an additional 70,837 shares in the last quarter. Victory Capital Management Inc. raised its position in Sonoco Products by 163.3% during the second quarter. Victory Capital Management Inc. now owns 792,285 shares of the industrial products company’s stock valued at $41,595,000 after purchasing an additional 491,419 shares in the last quarter. Finally, Northern Trust Corp raised its position in Sonoco Products by 0.8% during the second quarter. Northern Trust Corp now owns 772,213 shares of the industrial products company’s stock valued at $40,541,000 after purchasing an additional 6,062 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

NYSE:SON opened at $57.16 on Tuesday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.66 and a beta of 1.07. Sonoco Products has a 1 year low of $46.55 and a 1 year high of $58.69. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71.

The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 10th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, August 9th. This represents a $1.64 annualized dividend and a dividend yield of 2.87%. Sonoco Products’s dividend payout ratio is currently 58.78%.

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.

Recommended Story: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Get a free copy of the Zacks research report on Sonoco Products (SON)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.