Sonoco Products (SON) Issues FY19 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.52-3.62 for the period, compared to the Thomson Reuters consensus estimate of $3.52. Sonoco Products also updated its Q2 guidance to $0.93-0.99 EPS.

A number of brokerages have recently issued reports on SON. KeyCorp restated a hold rating on shares of Sonoco Products in a research report on Sunday, April 21st. Vertical Research downgraded shares of Sonoco Products from a hold rating to a sell rating in a report on Tuesday, April 16th. Wells Fargo & Co set a $58.00 price objective on shares of Sonoco Products and gave the stock a hold rating in a report on Monday, April 22nd. Finally, Argus upgraded shares of Sonoco Products from a hold rating to a buy rating and set a $68.00 price objective on the stock in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $59.40.

SON traded up $0.44 during trading on Friday, hitting $63.11. 442,868 shares of the company traded hands, compared to its average volume of 520,501. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 1.36. The firm has a market cap of $6.27 billion, a P/E ratio of 18.73, a PEG ratio of 3.75 and a beta of 1.01. Sonoco Products has a one year low of $50.30 and a one year high of $64.46.

Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, April 18th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. Sonoco Products had a net margin of 5.76% and a return on equity of 19.57%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. Equities research analysts predict that Sonoco Products will post 3.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Sonoco Products’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s dividend payout ratio is presently 51.04%.

In other news, CFO Barry L. Saunders sold 5,547 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $59.68, for a total value of $331,044.96. Following the sale, the chief financial officer now directly owns 77,719 shares of the company’s stock, valued at $4,638,269.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Roger P. Schrum sold 812 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total transaction of $50,547.00. Following the completion of the sale, the vice president now directly owns 7,938 shares in the company, valued at $494,140.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,210 shares of company stock worth $2,004,004. Insiders own 1.30% of the company’s stock.

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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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