Wall Street brokerages expect that Sonoco Products Co (NYSE:SON) will post sales of $1.27 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Sonoco Products’ earnings, with the highest sales estimate coming in at $1.30 billion and the lowest estimate coming in at $1.23 billion. Sonoco Products posted sales of $1.14 billion during the same quarter last year, which would suggest a positive year over year growth rate of 11.4%. The business is scheduled to report its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Sonoco Products will report full year sales of $1.27 billion for the current year, with estimates ranging from $4.97 billion to $5.04 billion. For the next financial year, analysts expect that the business will report sales of $5.25 billion per share, with estimates ranging from $5.18 billion to $5.37 billion. Zacks Investment Research’s sales averages 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, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Sonoco Products’s quarterly revenue was up 9.6% on a year-over-year basis.

A number of research analysts have commented on SON shares. Bank of America raised shares of Sonoco Products from an “underperform” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 target price on shares of Sonoco Products in a research report on Friday, September 1st. Barclays raised shares of Sonoco Products from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $49.00 to $55.00 in a research report on Friday, December 15th. Jefferies Group reissued a “hold” rating and set a $48.00 price target on shares of Sonoco Products in a research report on Thursday, September 7th. Finally, KeyCorp reissued a “hold” rating on shares of Sonoco Products in a research report on Sunday, December 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Sonoco Products currently has an average rating of “Hold” and an average target price of $53.00.

Sonoco Products (NYSE:SON) opened at $53.70 on Wednesday. Sonoco Products has a 1 year low of $47.10 and a 1 year high of $55.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.11. The company has a market cap of $5,361.68, a PE ratio of 20.13, a price-to-earnings-growth ratio of 4.13 and a beta of 1.15.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.56 annualized dividend and a dividend yield of 2.91%. Sonoco Products’s dividend payout ratio is presently 57.35%.

In related news, CFO Barry L. Saunders sold 5,645 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $52.39, for a total transaction of $295,741.55. Following the sale, the chief financial officer now directly owns 60,455 shares in the company, valued at $3,167,237.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vicki B. Arthur sold 727 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.00, for a total transaction of $38,531.00. Following the sale, the senior vice president now owns 33,998 shares in the company, valued at $1,801,894. The disclosure for this sale can be found here. Insiders have sold 6,937 shares of company stock worth $363,088 over the last 90 days. Insiders own 1.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its stake in shares of Sonoco Products by 3.4% during the third quarter. California Public Employees Retirement System now owns 254,300 shares of the industrial products company’s stock worth $12,829,000 after buying an additional 8,250 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Sonoco Products by 28.2% during the third quarter. Janney Montgomery Scott LLC now owns 30,597 shares of the industrial products company’s stock worth $1,544,000 after buying an additional 6,722 shares during the period. Point72 Asset Management L.P. purchased a new position in Sonoco Products in the third quarter valued at approximately $15,695,000. Janus Henderson Group PLC increased its stake in Sonoco Products by 56.1% in the third quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock valued at $51,047,000 after purchasing an additional 363,692 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Sonoco Products in the third quarter valued at approximately $686,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.

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About Sonoco Products

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

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

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