Equities research analysts expect Sonoco Products (NYSE:SON) to post earnings of $0.88 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Sonoco Products’ earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.87. Sonoco Products reported earnings per share of $0.82 in the same quarter last year, which suggests a positive year over year growth rate of 7.3%. The company is scheduled to report its next earnings results on Thursday, February 10th.
According to Zacks, analysts expect that Sonoco Products will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.52 to $3.54. For the next year, analysts anticipate that the company will report earnings of $3.87 per share, with EPS estimates ranging from $3.74 to $3.92. Zacks’ EPS averages are an average based on a survey of research analysts that follow Sonoco Products.
Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Wednesday, October 20th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Sonoco Products had a positive return on equity of 18.65% and a negative net margin of 2.94%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis.
Shares of Sonoco Products stock traded down $0.54 during midday trading on Thursday, reaching $61.93. The company had a trading volume of 554,767 shares, compared to its average volume of 413,760. The stock has a fifty day moving average price of $60.52 and a 200 day moving average price of $63.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.19 and a quick ratio of 0.79. The firm has a market cap of $6.09 billion, a PE ratio of -37.99, a P/E/G ratio of 3.49 and a beta of 0.81. Sonoco Products has a fifty-two week low of $57.21 and a fifty-two week high of $69.83.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 2.91%. Sonoco Products’s payout ratio is currently -110.43%.
In related news, VP John M. Florence sold 493 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $65.32, for a total transaction of $32,202.76. Following the transaction, the vice president now directly owns 10,449 shares in the company, valued at approximately $682,528.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeffrey S. Tomaszewski sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $59.36, for a total value of $100,912.00. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SON. Schroder Investment Management Group purchased a new position in Sonoco Products during the first quarter valued at $27,000. MUFG Americas Holdings Corp purchased a new position in Sonoco Products during the second quarter valued at $33,000. Berman Capital Advisors LLC raised its stake in Sonoco Products by 167.9% during the third quarter. Berman Capital Advisors LLC now owns 517 shares of the industrial products company’s stock valued at $30,000 after buying an additional 324 shares during the last quarter. Assetmark Inc. raised its stake in Sonoco Products by 56.8% during the second quarter. Assetmark Inc. now owns 533 shares of the industrial products company’s stock valued at $36,000 after buying an additional 193 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Sonoco Products during the second quarter valued at $37,000. Institutional investors own 75.77% of the company’s stock.
Sonoco Products Company Profile
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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