Sonoco Products Company (SON) Updates FY14 Earnings Guidance
Sonoco Products Company (NYSE:SON) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.43-2.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.49, AnalystRatingsNetwork.com reports. Sonoco Products Company also updated its Q3 guidance to $0.66-0.70 EPS.
Sonoco Products Company (NYSE:SON) opened at 42.74 on Thursday. Sonoco Products Company has a 52 week low of $36.19 and a 52 week high of $44.65. The stock’s 50-day moving average is $42.97 and its 200-day moving average is $41.98. The company has a market cap of $4.362 billion and a price-to-earnings ratio of 19.99.
Sonoco Products Company (NYSE:SON) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.63 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.66 by $0.03. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that Sonoco Products Company will post $2.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.99%.
A number of analysts have recently weighed in on SON shares. Analysts at Jefferies Group raised their price target on shares of Sonoco Products Company from $40.00 to $43.00 in a research note on Friday, July 11th. They now have a hold rating on the stock. On a related note, analysts at Bank of America upgraded shares of Sonoco Products Company from a neutral rating to a buy rating in a research note on Friday, June 13th. They now have a $47.00 price target on the stock, up previously from $44.00. Finally, analysts at Zacks reiterated a neutral rating on shares of Sonoco Products Company in a research note on Friday, June 6th. They now have a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Sonoco Products Company currently has a consensus rating of Hold and an average price target of $41.75.
Sonoco Products Company (NYSE:SON) is a manufacturer of industrial and consumer packaging products and a provider of packaging services, with 347 locations in 34 countries.
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