Sonoco Products (NYSE:SON) Posts Earnings Results, Misses Expectations By $0.07 EPS

Sonoco Products (NYSE:SON) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07), FiscalAI reports. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.07 billion. Sonoco Products had a positive return on equity of 15.51% and a negative net margin of 3.08%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS.

Sonoco Products Stock Performance

SON opened at $50.09 on Friday. Sonoco Products has a 12-month low of $38.65 and a 12-month high of $60.67. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 1.44 and a beta of 0.35. The business has a 50 day moving average of $51.52 and a 200-day moving average of $52.55. The company has a quick ratio of 0.55, a current ratio of 0.99 and a debt-to-equity ratio of 0.97.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 10th. Sonoco Products’s dividend payout ratio (DPR) is presently 34.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Sonoco Products from $61.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Bank of America cut shares of Sonoco Products from a “buy” rating to a “neutral” rating and cut their price target for the company from $69.00 to $60.00 in a research note on Thursday, September 3rd. Citigroup lifted their price objective on shares of Sonoco Products from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Sonoco Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Finally, Truist Financial lowered their price objective on shares of Sonoco Products from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and a consensus target price of $58.89.

Sonoco Products Company Profile

Sonoco Products Company is a global packaging company headquartered in Hartsville, South Carolina. Founded in 1899 as the Southern Novelty Company, it has developed from a producer of paper cones for the textile industry into a diversified provider of packaging solutions serving consumer, industrial and commercial customers.

The company manufactures a broad range of products, including composite cans and tubes, paperboard packaging, flexible packaging, thermoformed packaging, rigid plastic containers, protective packaging and packaging components.