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

Sonoco Products (NYSE:SON) is scheduled to be announcing its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. On average, analysts expect Sonoco Products to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Sonoco Products Stock Performance

Shares of NYSE:SON opened at $56.51 on Friday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.16 and a beta of 0.68. The firm’s 50 day simple moving average is $56.93 and its 200 day simple moving average is $55.93. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.10. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74.

Sonoco Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.68%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, May 9th. Sonoco Products’s dividend payout ratio (DPR) is currently 42.50%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SON shares. Wells Fargo & Company cut their price target on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. TheStreet downgraded shares of Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Finally, Citigroup lowered their target price on Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Insider Buying and Selling

In related news, VP Adam Wood sold 537 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $57.04, for a total transaction of $30,630.48. Following the completion of the sale, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total transaction of $30,630.48. Following the completion of the transaction, the vice president now directly owns 28,273 shares of the company’s stock, valued at approximately $1,612,691.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Russell K. Grissett sold 2,039 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $56.06, for a total transaction of $114,306.34. Following the transaction, the insider now directly owns 11,988 shares of the company’s stock, valued at $672,047.28. The disclosure for this sale can be found here. In the last three months, insiders sold 13,076 shares of company stock valued at $749,002. 0.51% of the stock is owned by corporate insiders.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.