Sonoco Products Given New $40.00 Price Target at Robert W. Baird (SON)
Equities researchers at Robert W. Baird increased their price objective on shares of Sonoco Products (NYSE:SON) from $37.00 to $40.00 in a research report issued on Friday, Analyst Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential downside of 0.47% from the company’s current price.
Sonoco Products (NYSE:SON) traded up 0.53% during mid-day trading on Friday, hitting $40.19. The stock had a trading volume of 757,472 shares. Sonoco Products has a 52 week low of $29.00 and a 52 week high of $40.25. The stock’s 50-day moving average is $38.85 and its 200-day moving average is $36.72. The company has a market cap of $4.036 billion and a price-to-earnings ratio of 20.09.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.63 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.55 earnings per share. Sonoco Products’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that Sonoco Products will post $2.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, November 13th.
A number of other firms have also 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $37.63.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
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