Brokerages Expect Sonoco Products (NYSE:SON) to Post $1.28 Earnings Per Share

Wall Street brokerages expect Sonoco Products (NYSE:SON – Get Rating) to post earnings per share of $1.28 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Sonoco Products’ earnings, with the highest EPS estimate coming in at $1.31 and the lowest estimate coming in at $1.26. Sonoco Products reported earnings of $0.84 per share in the same quarter last year, which would indicate a positive year over year growth rate of 52.4%. The firm is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Sonoco Products will report full year earnings of $5.38 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.45. For the next financial year, analysts anticipate that the company will post earnings of $5.25 per share, with EPS estimates ranging from $5.05 to $5.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Sonoco Products.

Sonoco Products (NYSE:SON – Get Rating) last released its earnings results on Thursday, April 21st. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Sonoco Products had a positive return on equity of 23.98% and a negative net margin of 0.71%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $0.90 EPS. Sonoco Products’s revenue for the quarter was up 30.9% on a year-over-year basis.

SON has been the subject of several analyst reports. StockNews.com cut Sonoco Products from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Wells Fargo & Company boosted their target price on Sonoco Products from $59.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. TheStreet downgraded Sonoco Products from a “b” rating to a “c+” rating in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Sonoco Products from $63.00 to $65.00 in a report on Monday, April 18th. Finally, Seaport Res Ptn downgraded Sonoco Products from a “buy” rating to a “neutral” rating in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.14.

SON opened at $59.14 on Friday. Sonoco Products has a 12 month low of $54.34 and a 12 month high of $68.93. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -151.64, a PEG ratio of 2.20 and a beta of 0.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.31 and a quick ratio of 0.81. The business has a fifty day moving average price of $61.07 and a 200 day moving average price of $59.20.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be issued a $0.49 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, May 9th. Sonoco Products’s payout ratio is presently -502.55%.

In other news, CFO Julie C. Albrecht sold 1,693 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $61.89, for a total value of $104,779.77. Following the completion of the sale, the chief financial officer now directly owns 54,091 shares of the company’s stock, valued at approximately $3,347,691.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of SON. CWM LLC purchased a new stake in Sonoco Products during the 4th quarter valued at approximately $27,000. Quadrant Capital Group LLC raised its stake in Sonoco Products by 80.0% during the 1st quarter. Quadrant Capital Group LLC now owns 468 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 208 shares during the last quarter. Richwood Investment Advisors LLC purchased a new stake in Sonoco Products during the 4th quarter valued at approximately $39,000. Moors & Cabot Inc. purchased a new stake in Sonoco Products during the 3rd quarter valued at approximately $45,000. Finally, UMB Bank N A MO purchased a new stake in Sonoco Products during the 4th quarter valued at approximately $54,000. 77.06% of the stock is owned by institutional investors and hedge funds.

About Sonoco Products (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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