Sonoco Products (NYSE:SON) Issues Quarterly Earnings Results

Sonoco Products (NYSE:SONGet Rating) issued its quarterly earnings results on Thursday. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.13, MarketWatch Earnings reports. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Sonoco Products had a positive return on equity of 19.11% and a negative net margin of 1.53%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS.

Shares of NYSE SON traded up $0.54 during trading on Thursday, reaching $66.45. The company had a trading volume of 21,922 shares, compared to its average volume of 600,353. Sonoco Products has a 52 week low of $54.34 and a 52 week high of $69.83. The business’s 50 day moving average price is $59.77 and its 200-day moving average price is $59.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 1.09. The stock has a market cap of $6.48 billion, a PE ratio of -77.54, a PEG ratio of 2.57 and a beta of 0.76.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Tuesday, May 10th will be issued a dividend of $0.49 per share. This is an increase from Sonoco Products’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 2.95%. Sonoco Products’s dividend payout ratio (DPR) is currently -211.76%.

Several research firms recently weighed in on SON. StockNews.com upgraded Sonoco Products from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on Sonoco Products from $59.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Sonoco Products from $63.00 to $65.00 in a research note on Monday. Seaport Res Ptn restated a “buy” rating on shares of Sonoco Products in a research report on Friday, February 11th. Finally, Zacks Investment Research upgraded Sonoco Products from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Monday, December 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Sonoco Products presently has a consensus rating of “Hold” and an average target price of $63.14.

In other Sonoco Products news, VP Harold G. Cummings III acquired 2,200 shares of the business’s stock in a transaction dated Tuesday, February 15th. The shares were acquired at an average price of $56.45 per share, with a total value of $124,190.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Richwood Investment Advisors LLC bought a new position in Sonoco Products during the 4th quarter valued at $39,000. Zullo Investment Group Inc. purchased a new position in shares of Sonoco Products during the 4th quarter valued at about $61,000. Virtu Financial LLC bought a new position in shares of Sonoco Products during the 4th quarter valued at approximately $293,000. Marshall Wace LLP purchased a new position in Sonoco Products during the 4th quarter valued at $347,000. Finally, Guggenheim Capital LLC increased its position in Sonoco Products by 6.7% during the 4th 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 owned by institutional investors.

Sonoco Products Company Profile (Get Rating)

Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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Earnings History for Sonoco Products (NYSE:SON)

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