Analysts expect Sonoco Products Co (NYSE:SON) to post $1.40 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sonoco Products’ earnings, with estimates ranging from $1.37 billion to $1.43 billion. Sonoco Products reported sales of $1.36 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The company is scheduled to announce its next earnings report on Thursday, October 17th.
On average, analysts expect that Sonoco Products will report full-year sales of $5.51 billion for the current year, with estimates ranging from $5.42 billion to $5.63 billion. For the next financial year, analysts anticipate that the business will post sales of $5.58 billion, with estimates ranging from $5.42 billion to $5.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Sonoco Products.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). Sonoco Products had a net margin of 5.61% and a return on equity of 19.55%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the firm earned $0.93 EPS. Sonoco Products’s revenue for the quarter was down .5% on a year-over-year basis.
In other news, VP Marcy J. Thompson sold 1,182 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $61.37, for a total value of $72,539.34. Following the completion of the sale, the vice president now owns 18,938 shares of the company’s stock, valued at $1,162,225.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC lifted its stake in shares of Sonoco Products by 311.5% in the second quarter. FinTrust Capital Advisors LLC now owns 679 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 514 shares in the last quarter. Kavar Capital Partners LLC acquired a new position in shares of Sonoco Products in the second quarter worth about $46,000. Parallel Advisors LLC lifted its stake in shares of Sonoco Products by 102.4% in the first quarter. Parallel Advisors LLC now owns 755 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 382 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Sonoco Products in the second quarter worth about $56,000. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Sonoco Products by 54.1% in the first quarter. Flagship Harbor Advisors LLC now owns 966 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 339 shares in the last quarter. Institutional investors and hedge funds own 73.69% of the company’s stock.
SON stock traded up $0.39 during trading on Friday, reaching $59.43. 495,522 shares of the stock traded hands, compared to its average volume of 549,967. The firm’s 50 day simple moving average is $63.79. Sonoco Products has a 52-week low of $50.30 and a 52-week high of $66.57. The company has a quick ratio of 0.84, a current ratio of 1.24 and a debt-to-equity ratio of 0.64. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 3.55 and a beta of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, August 8th. Sonoco Products’s payout ratio is 51.04%.
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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