Wall Street brokerages forecast that Sonoco Products Co (NYSE:SON) will report $1.37 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sonoco Products’ earnings, with the lowest sales estimate coming in at $1.33 billion and the highest estimate coming in at $1.39 billion. Sonoco Products posted sales of $1.30 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, April 18th.
According to Zacks, analysts expect that Sonoco Products will report full-year sales of $5.61 billion for the current fiscal year, with estimates ranging from $5.48 billion to $5.74 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.67 billion, with estimates ranging from $5.53 billion to $5.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Sonoco Products.
Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, February 14th. The industrial products company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS.
In other news, SVP R. Howard Coker sold 6,474 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $59.78, for a total value of $387,015.72. Following the transaction, the senior vice president now owns 212,341 shares of the company’s stock, valued at $12,693,744.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin P. Mahoney sold 1,119 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $59.57, for a total transaction of $66,658.83. Following the completion of the transaction, the senior vice president now directly owns 2,295 shares in the company, valued at approximately $136,713.15. The disclosure for this sale can be found here. Insiders sold a total of 20,829 shares of company stock worth $1,245,466 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC purchased a new position in shares of Sonoco Products in the fourth quarter worth $35,000. Oregon Public Employees Retirement Fund grew its holdings in Sonoco Products by 5,213.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 2,027,805 shares during the period. Tributary Capital Management LLC bought a new position in Sonoco Products during the fourth quarter worth about $46,000. Rehmann Capital Advisory Group grew its holdings in Sonoco Products by 40.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,137 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 328 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Sonoco Products by 67.5% during the fourth quarter. Meeder Asset Management Inc. now owns 1,330 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 536 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SON traded up $0.20 during midday trading on Friday, reaching $62.66. 17,489 shares of the stock were exchanged, compared to its average volume of 500,077. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 3.79 and a beta of 1.01. Sonoco Products has a twelve month low of $48.85 and a twelve month high of $62.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.40 and a quick ratio of 0.95.
Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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