Sonoco Products (NYSE:SON) Updates Q4 2024 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.150-1.350 for the period, compared to the consensus earnings per share estimate of 1.200. The company issued revenue guidance of -. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Analyst Ratings Changes

Several equities research analysts have issued reports on SON shares. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Raymond James began coverage on shares of Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price for the company. Finally, Citigroup lifted their price target on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, Sonoco Products has an average rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Trading Down 2.6 %

Shares of SON traded down $1.38 during mid-day trading on Friday, reaching $51.14. The company’s stock had a trading volume of 1,382,678 shares, compared to its average volume of 588,379. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The company’s fifty day moving average price is $54.03 and its two-hundred day moving average price is $54.56. The stock has a market cap of $5.02 billion, a PE ratio of 17.57, a P/E/G ratio of 2.20 and a beta of 0.69.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts predict that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued 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 4.07%. Sonoco Products’s dividend payout ratio is currently 71.48%.

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.