Sonoco Products Co. (SON) Issues FY14 Earnings Guidance
Sonoco Products Co. (NYSE:SON) updated its FY14 earnings guidance on Thursday. The company provided EPS guidance of $2.43-2.53 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.52, AnalystRatings.NET reports. Sonoco Products also updated its Q1 guidance to $0.50-0.54 EPS.
Several analysts have recently commented on the stock. Analysts at Oppenheimer raised their price target on shares of Sonoco Products from $42.00 to $48.00 in a research note on Thursday. They now have an outperform rating on the stock. On a related note, analysts at Bank of America downgraded shares of Sonoco Products from a buy rating to a neutral rating in a research note on Friday, January 3rd. Finally, analysts at Deutsche Bank reiterated a hold rating on shares of Sonoco Products in a research note on Thursday, December 12th. They now have a $38.00 price target on the stock, up previously from $36.00. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Sonoco Products currently has a consensus rating of Hold and a consensus target price of $39.86.
Sonoco Products Co. (NYSE:SON) traded up 0.55% during mid-day trading on Thursday, hitting $41.81. The stock had a trading volume of 405,365 shares. Sonoco Products Co. has a 52-week low of $31.14 and a 52-week high of $43.75. The stock has a 50-day moving average of $41.72 and a 200-day moving average of $40.03. The company has a market cap of $4.263 billion and a P/E ratio of 20.69.
Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, February 13th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.58. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.56 earnings per share. Sonoco Products’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Sonoco Products Co. will post $2.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.98%.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
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