Sonoco Products Co (NYSE:SON) – Stock analysts at KeyCorp lowered their Q2 2017 earnings per share (EPS) estimates for Sonoco Products in a research note issued to investors on Tuesday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings per share of $0.69 for the quarter, down from their prior estimate of $0.71. KeyCorp also issued estimates for Sonoco Products’ Q4 2017 earnings at $0.68 EPS.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, June 22nd. Jefferies Group LLC reissued a “hold” rating and set a $48.00 price objective (up from $47.00) on shares of Sonoco Products in a report on Sunday, April 23rd. DA Davidson raised shares of Sonoco Products from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $48.00 to $54.00 in a report on Friday, April 21st. Robert W. Baird raised shares of Sonoco Products from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $60.00 in a report on Wednesday. Finally, Barclays PLC reissued an “overweight” rating on shares of Sonoco Products in a report on Friday, April 14th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Sonoco Products presently has an average rating of “Hold” and a consensus target price of $50.88.
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Sonoco Products (NYSE SON) opened at 49.44 on Thursday. Sonoco Products has a 12-month low of $48.86 and a 12-month high of $55.58. The stock’s 50 day moving average price is $51.29 and its 200 day moving average price is $52.53. The company has a market capitalization of $4.91 billion, a PE ratio of 17.97 and a beta of 1.14.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Sonoco Products had a return on equity of 10.59% and a net margin of 3.29%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 11th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, August 9th. Sonoco Products’s payout ratio is 56.52%.
A number of large investors have recently bought and sold shares of SON. Norges Bank acquired a new stake in Sonoco Products during the fourth quarter valued at approximately $46,593,000. Teachers Advisors LLC raised its stake in Sonoco Products by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 106,108 shares of the industrial products company’s stock valued at $5,592,000 after buying an additional 9,179 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in Sonoco Products by 172.3% in the first quarter. Manning & Napier Advisors LLC now owns 49,542 shares of the industrial products company’s stock valued at $2,620,000 after buying an additional 31,345 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in Sonoco Products by 2.0% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 39,036 shares of the industrial products company’s stock valued at $2,066,000 after buying an additional 754 shares during the last quarter. Finally, Creative Planning raised its stake in Sonoco Products by 5.8% in the first quarter. Creative Planning now owns 5,626 shares of the industrial products company’s stock valued at $298,000 after buying an additional 309 shares during the last quarter. 74.12% of the stock is currently owned by institutional investors.
About Sonoco Products
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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