Sonoco Products (NYSE:SON) Issues FY 2024 Earnings Guidance

Sonoco Products (NYSE:SON) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 5.050-5.250 for the period, compared to the consensus earnings per share estimate of 5.020. The company issued revenue guidance of -. Sonoco Products also updated its Q4 guidance to $1.15-$1.35 EPS.

Sonoco Products Stock Up 0.1 %

NYSE SON traded up $0.07 on Thursday, reaching $52.54. The company had a trading volume of 911,369 shares, compared to its average volume of 612,481. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The stock has a market capitalization of $5.16 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.22 and a beta of 0.68. The company’s fifty day moving average is $54.09 and its 200 day moving average is $54.63. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. Sell-side analysts anticipate that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 3.96%. Sonoco Products’s payout ratio is 55.91%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Raymond James assumed coverage on Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective for the company. StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Citigroup upped their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Company Profile

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.