Sonoco Products Co. Reaches New 12-Month High at $39.96 (SON)
Sonoco Products (NYSE:SON)’s share price reached a new 52-week high on Thursday, Analyst Ratings.Net reports. The company traded as high as $39.96 and last traded at $39.52, with a volume of 548,950 shares traded. The stock had previously closed at $38.92.
A number of research firms have recently commented on SON. Analysts at DA Davidson downgraded shares of Sonoco Products from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $37.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Sonoco Products from a “neutral” rating to a “sell” rating in a research note to investors on Friday, October 11th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sonoco Products in a research note to investors on Friday, September 13th. They now have a $40.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.25.
Sonoco Products has a 52-week low of $29.00 and a 52-week high of $40.25. The stock has a 50-day moving average of $38.78 and a 200-day moving average of $36.68. The company has a market cap of $4.015 billion and a P/E ratio of 19.56.
Sonoco Products (NYSE:SON) last released its earnings data on Thursday, October 17th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that Sonoco Products will post $2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Wednesday, November 13th.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
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