Sonoco Products Stock Rating Reaffirmed by Zacks (SON)
Sonoco Products (NYSE:SON)‘s stock had its “neutral” rating restated by Zacks in a report released on Wednesday, Stock Ratings Network.com reports. They currently have a $44.00 price objective on the stock. Zacks‘ price target would indicate a potential upside of 4.64% from the stock’s previous close.
Zacks‘ analyst wrote, “We maintain our Neutral recommendation on Sonoco Products with a target price of $44.00. Sonoco’s fourth-quarter 2013 adjusted earnings rose 3.5% year over year to $0.58 per share, in line with the Zacks Consensus Estimate and company’s guidance range of $0.55-$0.59. Net sales also increased 3% year over year to $1.21 billion. Sonoco expects first-quarter 2014 earnings per share in the range of $0.50-$0.54. The company is expected to benefit from organic sales growth, geographic expansion and strategic acquisitions in the near term. In addition, share repurchase activity will also drive growth. However, global economic factors and possible changes in raw material prices remain headwinds for the company.”
Other equities research analysts have also recently issued reports about 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, February 13th. They now have an “outperform” rating on the stock. Separately, 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 given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $40.14.
Shares of Sonoco Products (NYSE:SON) traded down 0.19% on Wednesday, hitting $41.97. The stock had a trading volume of 243,505 shares. Sonoco Products has a 1-year low of $31.14 and a 1-year high of $43.75. The stock’s 50-day moving average is $41.77 and its 200-day moving average is $40.10. The company has a market cap of $4.343 billion and a P/E ratio of 19.83.
Sonoco Products (NYSE:SON) last released its earnings data on Thursday, February 13th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that Sonoco Products will post $2.50 EPS 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 2.95%. The ex-dividend date is Monday, February 24th.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services.
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