Sonoco Products (SON) Set to Announce Earnings on Tuesday

Sonoco Products (NYSE:SON) will release its earnings data after the market closes on Tuesday, April 30th. Analysts expect Sonoco Products to post earnings of $1.08 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. Sonoco Products’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $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 Price Performance

Sonoco Products stock opened at $56.51 on Monday. The company’s 50 day simple moving average is $56.93 and its 200-day simple moving average is $55.94. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.68. Sonoco Products has a 1 year low of $49.98 and a 1 year high of $63.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.10 and a current ratio of 1.76.

Sonoco Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid 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 of this dividend is Thursday, May 9th. Sonoco Products’s payout ratio is 42.50%.

Insider Activity at Sonoco Products

In other Sonoco Products news, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the transaction, the insider now owns 11,988 shares in the company, valued at approximately $672,047.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sonoco Products news, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the transaction, the insider now owns 11,988 shares in the company, valued at approximately $672,047.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $604,065.00. Following the transaction, the insider now owns 13,456 shares of the company’s stock, valued at approximately $774,123.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,076 shares of company stock worth $749,002. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

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

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.