Sonoco Products (SON) Set to Announce Quarterly Earnings on Thursday

Sonoco Products (NYSE:SON – Get Rating) is scheduled to announce its earnings results before the market opens on Thursday, April 21st. Analysts expect the company to announce earnings of $1.70 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Sonoco Products (NYSE:SON – Get Rating) last posted its quarterly earnings data on Thursday, February 10th. The industrial products company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Sonoco Products had a negative net margin of 1.53% and a positive return on equity of 19.11%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted $0.82 earnings per share. Sonoco Products’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts expect Sonoco Products to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

SON opened at $63.59 on Thursday. Sonoco Products has a twelve month low of $54.34 and a twelve month high of $69.83. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $59.00 and a 200-day moving average of $59.14. The stock has a market cap of $6.20 billion, a PE ratio of -74.81, a price-to-earnings-growth ratio of 2.54 and a beta of 0.76.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Wednesday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, February 22nd. Sonoco Products’s dividend payout ratio (DPR) is presently -211.76%.

In related news, VP Harold G. Cummings III purchased 2,200 shares of Sonoco Products stock in a transaction on Tuesday, February 15th. The stock was acquired at an average cost of $56.45 per share, for a total transaction of $124,190.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Richwood Investment Advisors LLC bought a new position in shares of Sonoco Products in the fourth quarter valued at $39,000. Zullo Investment Group Inc. bought a new position in shares of Sonoco Products in the fourth quarter valued at $61,000. Virtu Financial LLC bought a new position in shares of Sonoco Products in the fourth quarter valued at $293,000. Marshall Wace LLP bought a new position in shares of Sonoco Products in the fourth quarter valued at $347,000. Finally, Guggenheim Capital LLC lifted its stake in shares of Sonoco Products by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 10,417 shares of the industrial products company’s stock valued at $603,000 after buying an additional 655 shares in the last quarter. 77.25% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on SON. BMO Capital Markets reiterated a “hold” rating and set a $65.00 price objective on shares of Sonoco Products in a research report on Wednesday, December 22nd. Seaport Global Securities upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 21st. Seaport Res Ptn reiterated a “buy” rating on shares of Sonoco Products in a research report on Friday, February 11th. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Monday, December 27th. Finally, Seaport Research Partners upgraded shares of Sonoco Products from a “neutral” rating to a “buy” rating in a report on Tuesday, December 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Sonoco Products currently has a consensus rating of “Hold” and an average target price of $62.00.

About Sonoco Products (Get Rating)

Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Protective Solutions, and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers, fiber and plastic caulk and adhesive tubes, and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.

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