Zacks: Analysts Expect Sonoco Products (NYSE:SON) to Announce $0.91 EPS

Wall Street analysts predict that Sonoco Products (NYSE:SON) will report $0.91 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Sonoco Products’ earnings, with estimates ranging from $0.89 to $0.93. Sonoco Products reported earnings per share of $0.86 in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The company is expected to report its next quarterly earnings results on Thursday, October 28th.

According to Zacks, analysts expect that Sonoco Products will report full year earnings of $3.56 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.57. For the next financial year, analysts anticipate that the firm will post earnings of $3.84 per share, with EPS estimates ranging from $3.70 to $3.91. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Sonoco Products.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, July 22nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). Sonoco Products had a negative net margin of 3.50% and a positive return on equity of 18.41%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company earned $0.79 EPS. The business’s revenue was up 11.0% compared to the same quarter last year.

Several equities analysts have recently issued reports on SON shares. Wells Fargo & Company cut their price objective on shares of Sonoco Products from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, July 23rd. TheStreet downgraded shares of Sonoco Products from a “b+” rating to a “c” rating in a report on Thursday, July 22nd. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.00.

In other Sonoco Products news, VP John M. Florence sold 493 shares of the company’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 value of $32,202.76. Following the sale, the vice president now owns 10,449 shares in the company, valued at approximately $682,528.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SON. Signaturefd LLC boosted its position in Sonoco Products by 22.3% in the 1st quarter. Signaturefd LLC now owns 6,976 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 1,273 shares in the last quarter. State of Michigan Retirement System boosted its position in Sonoco Products by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 37,234 shares of the industrial products company’s stock worth $2,357,000 after purchasing an additional 600 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Sonoco Products by 11.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,862,351 shares of the industrial products company’s stock valued at $117,887,000 after buying an additional 191,383 shares in the last quarter. Dean Investment Associates LLC lifted its position in shares of Sonoco Products by 12.2% during the 1st quarter. Dean Investment Associates LLC now owns 50,594 shares of the industrial products company’s stock valued at $3,203,000 after buying an additional 5,505 shares in the last quarter. Finally, Commerce Bank lifted its position in shares of Sonoco Products by 6.3% during the 1st quarter. Commerce Bank now owns 177,339 shares of the industrial products company’s stock valued at $11,226,000 after buying an additional 10,468 shares in the last quarter. Institutional investors and hedge funds own 75.87% of the company’s stock.

Shares of SON traded up $0.17 during mid-day trading on Friday, hitting $62.32. 394 shares of the company traded hands, compared to its average volume of 395,655. Sonoco Products has a 1-year low of $48.20 and a 1-year high of $69.83. The company has a quick ratio of 0.81, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.13 billion, a PE ratio of -32.20, a price-to-earnings-growth ratio of 3.53 and a beta of 0.83. The business has a 50 day moving average of $64.69 and a 200 day moving average of $65.18.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were given a $0.45 dividend. The ex-dividend date was Monday, August 9th. This represents a $1.80 annualized dividend and a yield of 2.89%. Sonoco Products’s dividend payout ratio is presently 52.79%.

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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