Wall Street brokerages expect that Sonoco Products (NYSE:SON) will report earnings per share (EPS) of $0.88 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sonoco Products’ earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.88. Sonoco Products posted earnings per share of $0.82 during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.3%. The business is expected to announce its next earnings report on Thursday, February 10th.
According to Zacks, analysts expect that Sonoco Products will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.52 to $3.54. For the next year, analysts forecast that the firm will report earnings of $3.87 per share, with EPS estimates ranging from $3.74 to $3.92. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Sonoco Products.
Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, October 20th. The industrial products company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Sonoco Products had a positive return on equity of 18.65% and a negative net margin of 2.94%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share.
In other Sonoco Products news, VP John M. Florence sold 493 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $65.32, for a total value of $32,202.76. Following the transaction, the vice president now directly owns 10,449 shares of the company’s stock, valued at $682,528.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeffrey S. Tomaszewski sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $59.36, for a total value of $100,912.00. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Schroder Investment Management Group acquired a new position in shares of Sonoco Products during the first quarter worth approximately $27,000. MUFG Americas Holdings Corp bought a new stake in Sonoco Products during the second quarter worth $33,000. Berman Capital Advisors LLC grew its holdings in Sonoco Products by 167.9% during the third quarter. Berman Capital Advisors LLC now owns 517 shares of the industrial products company’s stock worth $30,000 after buying an additional 324 shares in the last quarter. Assetmark Inc. grew its holdings in Sonoco Products by 56.8% during the second quarter. Assetmark Inc. now owns 533 shares of the industrial products company’s stock worth $36,000 after buying an additional 193 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Sonoco Products during the second quarter worth $37,000. 75.77% of the stock is currently owned by institutional investors.
Shares of NYSE:SON traded down $0.54 during midday trading on Thursday, hitting $61.93. 554,767 shares of the stock were exchanged, compared to its average volume of 413,760. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of -37.99, a P/E/G ratio of 3.49 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.79 and a current ratio of 1.19. The business’s 50-day moving average price is $60.52 and its 200 day moving average price is $63.90. Sonoco Products has a 12 month low of $57.21 and a 12 month high of $69.83.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Wednesday, November 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Tuesday, November 9th. Sonoco Products’s dividend payout ratio is currently -110.43%.
Sonoco Products Company Profile
Sonoco Products Co engages in the manufacture of industrial and consumer packaging products and services. It operates through the following segments: Consumer Packaging; Paper and Industrial Converted Products; Protective Solutions; and Display and Packaging. The Consumer Packaging segment offers round and shaped rigid containers; fiber and plastic caulk and adhesive tubes; and aluminum, steel, and peelable membrane easy-open closures for paper and metal cans.
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