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.
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.
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