Sonoco Products (NYSE:SON) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Sonoco Products (NYSE:SON) issued its earnings results on Wednesday. The industrial products company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.26 by $0.02, Briefing.com reports. Sonoco Products had a return on equity of 20.79% and a net margin of 5.86%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the firm posted $1.38 earnings per share. Sonoco Products’s revenue was down 4.8% compared to the same quarter last year.

Sonoco Products Trading Up 1.3 %

SON stock traded up $0.68 during trading on Wednesday, hitting $53.87. The company had a trading volume of 1,131,141 shares, compared to its average volume of 572,261. The firm has a 50-day moving average price of $54.60 and a 200-day moving average price of $56.38. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.30 and a beta of 0.68. Sonoco Products has a 12 month low of $48.22 and a 12 month high of $61.73. The company has a quick ratio of 0.83, a current ratio of 1.31 and a debt-to-equity ratio of 1.08.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, August 9th. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James assumed coverage on Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. Citigroup cut their target price on Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, July 8th. StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company cut their target price on Sonoco Products from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold 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.

About Sonoco Products

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.