Sonoco Products Company’s “Neutral” Rating Reaffirmed at Zacks (SON)
Sonoco Products Company (NYSE:SON)‘s stock had its “neutral” rating restated by Zacks in a report released on Wednesday. They currently have a $42.00 price target on the stock. Zacks‘s price target suggests a potential upside of 6.11% from the company’s current price.
Zacks’ analyst wrote, “We have maintained our Neutral recommendation on Sonoco Products with a target price of $42.00. Sonoco’s second-quarter 2014 adjusted earnings rose 74% y-o-y to $0.63 per share aided by improvements in productivity, favorable price/cost relationship, strong performances in Paper and Industrial Converted Products as well as Display and Packaging segments which offset higher input and operating costs and lower-than-expected results in Consumer Packaging and Protective Solutions segments. Sonoco will continue to benefit from the momentum in its Display and Packaging business, investments in new plants and product development center and recent price increase. However, weak volumes in the Consumer Packaging segment and soft spending environment remain concerns.”
A number of other firms have also recently commented on SON. Analysts at Macquarie reiterated a “neutral” rating on shares of Sonoco Products Company in a research note on Friday, July 18th. They now have a $44.00 price target on the stock, down previously from $45.00. Separately, analysts at Barclays raised their price target on shares of Sonoco Products Company from $40.00 to $43.00 in a research note on Friday, July 18th. They now have an “equal weight” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.44.
Sonoco Products Company (NYSE:SON) traded up 0.46% during mid-day trading on Wednesday, hitting $39.44. 328,351 shares of the company’s stock traded hands. Sonoco Products Company has a 52 week low of $36.59 and a 52 week high of $44.65. The stock has a 50-day moving average of $41.60 and a 200-day moving average of $41.71. The company has a market cap of $4.012 billion and a P/E ratio of 17.68.
Sonoco Products Company (NYSE:SON) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.63 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.59 earnings per share. Sonoco Products Company’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Sonoco Products Company will post $2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, August 13th.
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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