Sonoco Products (NYSE:SON) Releases Q4 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.15-$1.35 for the period, compared to the consensus estimate of $1.20. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Wall Street Analyst Weigh In

SON has been the topic of several recent analyst reports. Citigroup lifted their price target on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Raymond James started coverage on Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price on the stock. Finally, Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sonoco Products currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Sonoco Products Price Performance

Shares of NYSE SON traded down $1.38 during mid-day trading on Friday, hitting $51.14. 1,382,678 shares of the stock traded hands, compared to its average volume of 588,379. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The firm has a 50 day simple moving average of $54.03 and a two-hundred day simple moving average of $54.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The company has a market cap of $5.02 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69.

Sonoco Products (NYSE:SON) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Sonoco Products will post 5 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

About Sonoco Products

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.