Sonoco Products (SON) Announces Quarterly Results
Sonoco Products (NYSE:SON) announced its earnings results on Thursday. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.58, StockRatingsNetwork.com reports. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion.
A number of research firms have recently commented on SON. 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. On a related note, 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. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sonoco Products in a research note on Friday, November 29th. They now have a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.14.
Sonoco Products (NYSE:SON) opened at 41.58 on Thursday. Sonoco Products 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 $4.239 billion and a price-to-earnings ratio of 20.75.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders 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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