Sonoco Products Co. (SON) to Release Earnings on Thursday
Sonoco Products Co. (NYSE:SON) will release its earnings data on Thursday, October 20th. Sonoco Products has set its Q3 guidance at $0.65-0.70 EPS and its FY16 guidance at $2.68-2.74 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.05. Sonoco Products had a return on equity of 17.66% and a net margin of 4.37%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Sonoco Products’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts expect Sonoco Products to post $2.72 EPS for the current fiscal year and $2.90 EPS for the next fiscal year.
Sonoco Products Co. (NYSE:SON) opened at 50.60 on Wednesday. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 23.98 and a beta of 1.01. The company’s 50-day moving average price is $51.72 and its 200-day moving average price is $49.62. Sonoco Products Co. has a one year low of $36.56 and a one year high of $53.57.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 11th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.92%. Sonoco Products’s dividend payout ratio (DPR) is presently 69.81%.
In other news, Director John E. Linville sold 33,746 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $51.54, for a total transaction of $1,739,268.84. Following the transaction, the director now directly owns 223,787 shares of the company’s stock, valued at $11,533,981.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Vicki B. Arthur sold 1,721 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $51.00, for a total transaction of $87,771.00. Following the transaction, the vice president now directly owns 39,753 shares in the company, valued at $2,027,403. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Sonoco Products by 172.3% in the second quarter. Janney Montgomery Scott LLC now owns 13,170 shares of the company’s stock valued at $654,000 after buying an additional 8,334 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Sonoco Products by 82,533.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,479 shares of the company’s stock valued at $123,000 after buying an additional 2,476 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Sonoco Products during the second quarter valued at approximately $216,000. Mycio Wealth Partners LLC boosted its position in shares of Sonoco Products by 60.0% in the second quarter. Mycio Wealth Partners LLC now owns 2,400 shares of the company’s stock valued at $119,000 after buying an additional 900 shares in the last quarter. Finally, Reliance Trust Co. of Delaware boosted its position in shares of Sonoco Products by 7.6% in the second quarter. Reliance Trust Co. of Delaware now owns 7,342 shares of the company’s stock valued at $365,000 after buying an additional 518 shares in the last quarter. 68.97% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. Deutsche Bank AG set a $42.00 price target on Sonoco Products and gave the company a “hold” rating in a research report on Sunday, July 24th. Barclays PLC lifted their price target on Sonoco Products from $40.00 to $44.00 and gave the company an “underweight” rating in a research report on Monday, July 25th. BMO Capital Markets reiterated a “hold” rating and set a $46.00 price target on shares of Sonoco Products in a research report on Friday, July 22nd. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Finally, Jefferies Group restated a “neutral” rating on shares of Sonoco Products in a report on Friday, July 22nd. Six equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.25.
Sonoco Products Company Profile
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
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