Analysts Expect Sonoco Products Co (NYSE:SON) Will Post Quarterly Sales of $1.38 Billion

Equities analysts predict that Sonoco Products Co (NYSE:SON) will report sales of $1.38 billion for the current quarter, according to Zacks. Five analysts have provided estimates for Sonoco Products’ earnings. The highest sales estimate is $1.40 billion and the lowest is $1.37 billion. Sonoco Products reported sales of $1.36 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The firm is scheduled to issue its next earnings results on Thursday, October 17th.

According to Zacks, analysts expect that Sonoco Products will report full year sales of $5.47 billion for the current year, with estimates ranging from $5.42 billion to $5.54 billion. For the next financial year, analysts expect that the business will report sales of $5.56 billion, with estimates ranging from $5.42 billion to $5.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Sonoco Products.

Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, July 18th. The industrial products company reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.02). Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year.

SON has been the topic of a number of recent research reports. BMO Capital Markets lowered shares of Sonoco Products from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $60.00 to $56.00 in a report on Monday, July 15th. Bank of America lowered shares of Sonoco Products from a “neutral” rating to an “underperform” rating in a report on Friday, July 12th. KeyCorp reiterated a “hold” rating on shares of Sonoco Products in a report on Thursday, July 18th. Goldman Sachs Group lowered shares of Sonoco Products from a “neutral” rating to a “sell” rating and set a $59.00 price objective on the stock. in a report on Monday, June 24th. Finally, Robert W. Baird set a $70.00 price objective on shares of Sonoco Products and gave the company a “buy” rating in a report on Friday, July 19th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Sonoco Products has an average rating of “Hold” and a consensus price target of $61.17.

In other news, VP Marcy J. Thompson sold 1,182 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $61.37, for a total transaction of $72,539.34. Following the completion of the sale, the vice president now directly owns 18,938 shares of the company’s stock, valued at $1,162,225.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of SON. Krane Funds Advisors LLC purchased a new stake in shares of Sonoco Products during the 2nd quarter valued at approximately $25,000. Captrust Financial Advisors increased its position in Sonoco Products by 84.4% during the second quarter. Captrust Financial Advisors now owns 651 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 298 shares during the last quarter. FinTrust Capital Advisors LLC increased its position in Sonoco Products by 311.5% during the second quarter. FinTrust Capital Advisors LLC now owns 679 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 514 shares during the last quarter. Kavar Capital Partners LLC bought a new position in Sonoco Products during the second quarter valued at $46,000. Finally, Parallel Advisors LLC increased its position in Sonoco Products by 102.4% during the first quarter. Parallel Advisors LLC now owns 755 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 382 shares during the last quarter. 74.53% of the stock is owned by institutional investors and hedge funds.

NYSE:SON traded down $0.86 during mid-day trading on Tuesday, reaching $55.90. The stock had a trading volume of 423,008 shares, compared to its average volume of 482,700. The stock has a 50-day simple moving average of $60.58 and a two-hundred day simple moving average of $61.50. The stock has a market capitalization of $5.68 billion, a PE ratio of 16.59, a P/E/G ratio of 3.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.24 and a quick ratio of 0.84. Sonoco Products has a 12 month low of $50.30 and a 12 month high of $66.57.

The firm 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, August 8th. Sonoco Products’s payout ratio is presently 51.04%.

About Sonoco Products

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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