Sonoco Products (NYSE:SON) Updates Q2 Earnings Guidance

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Sonoco Products (NYSE:SON) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.82-0.88 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.89. Sonoco Products also updated its FY21 guidance to $3.50-3.60 EPS.

Shares of NYSE:SON traded down $0.84 during trading hours on Thursday, hitting $64.53. The stock had a trading volume of 1,447 shares, compared to its average volume of 435,416. The stock’s fifty day simple moving average is $63.45 and its 200 day simple moving average is $59.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.52. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.48 and a beta of 0.83. Sonoco Products has a 1-year low of $42.41 and a 1-year high of $65.60.

Sonoco Products (NYSE:SON) last announced its earnings results on Wednesday, February 10th. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.31 billion. Sonoco Products had a net margin of 5.11% and a return on equity of 18.67%. During the same quarter last year, the firm posted $0.75 EPS. As a group, research analysts anticipate that Sonoco Products will post 3.36 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 24th were paid a $0.45 dividend. The ex-dividend date was Tuesday, February 23rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Sonoco Products’s previous quarterly dividend of $0.43. Sonoco Products’s payout ratio is 50.99%.

A number of analysts have commented on SON shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Sonoco Products from $61.00 to $63.00 in a report on Monday. Wells Fargo & Company restated an equal weight rating and set a $69.00 target price on shares of Sonoco Products in a research report on Wednesday, April 14th. Seaport Global Securities reiterated a neutral rating on shares of Sonoco Products in a research report on Thursday. Finally, BMO Capital Markets lowered shares of Sonoco Products from an outperform rating to a market perform rating and reduced their price target for the stock from $68.00 to $65.00 in a research report on Tuesday, January 26th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The company has a consensus rating of Hold and an average price target of $60.50.

In related news, VP James A. Harrell III sold 580 shares of Sonoco Products stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $62.63, for a total transaction of $36,325.40. Following the completion of the transaction, the vice president now owns 22,828 shares of the company’s stock, valued at $1,429,717.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by company insiders.

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 provides paper 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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