Wall Street analysts forecast that Sonoco Products Co (NYSE:SON) will report earnings per share (EPS) of $0.86 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Sonoco Products’ earnings, with the lowest EPS estimate coming in at $0.83 and the highest estimate coming in at $0.88. Sonoco Products reported earnings per share of $0.76 in the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The business is expected to issue its next earnings results on Thursday, October 18th.

On average, analysts expect that Sonoco Products will report full year earnings of $3.34 per share for the current fiscal year, with EPS estimates ranging from $3.30 to $3.37. For the next financial year, analysts anticipate that the business will post earnings of $3.50 per share, with EPS estimates ranging from $3.36 to $3.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Sonoco Products.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Sonoco Products had a return on equity of 18.01% and a net margin of 4.57%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share.

A number of brokerages recently weighed in on SON. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. DA Davidson raised their price objective on Sonoco Products to $57.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Finally, Barclays raised their price objective on Sonoco Products from $55.00 to $58.00 and gave the company a “$56.02” rating in a report on Monday, July 23rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sonoco Products currently has a consensus rating of “Hold” and a consensus price target of $57.14.

In other Sonoco Products news, VP Roger P. Schrum sold 1,067 shares of Sonoco Products stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $53.00, for a total value of $56,551.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $588,883. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vicki B. Arthur sold 1,305 shares of Sonoco Products stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $56.81, for a total value of $74,137.05. Following the completion of the transaction, the senior vice president now directly owns 23,534 shares in the company, valued at $1,336,966.54. The disclosure for this sale can be found here. Insiders sold a total of 31,200 shares of company stock worth $1,726,520 over the last ninety days. Insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of SON. Vident Investment Advisory LLC grew its stake in shares of Sonoco Products by 4.2% in the second quarter. Vident Investment Advisory LLC now owns 24,019 shares of the industrial products company’s stock valued at $1,261,000 after buying an additional 968 shares in the last quarter. Mason Street Advisors LLC grew its stake in shares of Sonoco Products by 2.0% in the first quarter. Mason Street Advisors LLC now owns 49,969 shares of the industrial products company’s stock valued at $2,423,000 after buying an additional 1,000 shares in the last quarter. LPL Financial LLC grew its stake in shares of Sonoco Products by 4.3% in the first quarter. LPL Financial LLC now owns 25,470 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 1,055 shares in the last quarter. Fruth Investment Management grew its stake in shares of Sonoco Products by 3.4% in the first quarter. Fruth Investment Management now owns 33,579 shares of the industrial products company’s stock valued at $1,628,000 after buying an additional 1,103 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Sonoco Products by 9.8% in the second quarter. Bank of Montreal Can now owns 12,473 shares of the industrial products company’s stock valued at $655,000 after buying an additional 1,111 shares in the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.

Shares of NYSE SON traded down $0.13 during trading hours on Wednesday, reaching $55.44. 20,227 shares of the stock traded hands, compared to its average volume of 512,236. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 3.55 and a beta of 1.08. The company has a current ratio of 1.53, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Sonoco Products has a 52-week low of $46.55 and a 52-week high of $57.18.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be paid a $0.41 dividend. The ex-dividend date is Thursday, August 9th. This represents a $1.64 dividend on an annualized basis and a yield of 2.96%. Sonoco Products’s dividend payout ratio (DPR) is currently 58.78%.

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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Earnings History and Estimates for Sonoco Products (NYSE:SON)

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