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.
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.
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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