Q4 2017 Earnings Forecast for Sonoco Products Co (SON) Issued By Jefferies Group
Sonoco Products Co (NYSE:SON) – Research analysts at Jefferies Group decreased their Q4 2017 earnings per share estimates for Sonoco Products in a research report issued on Tuesday. Jefferies Group analyst P. Ng now anticipates that the industrial products company will earn $0.65 per share for the quarter, down from their prior estimate of $0.66. Jefferies Group also issued estimates for Sonoco Products’ FY2018 earnings at $3.01 EPS.
Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Sonoco Products had a net margin of 5.99% and a return on equity of 17.59%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Q4 2017 Earnings Forecast for Sonoco Products Co (SON) Issued By Jefferies Group” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/04/21/q4-2017-earnings-forecast-for-sonoco-products-co-son-issued-by-jefferies-group.html.
Several other equities research analysts have also issued reports on the company. DA Davidson raised Sonoco Products from an “underperform” rating to a “neutral” rating and raised their target price for the company from $48.00 to $54.00 in a research report on Friday. Barclays PLC reaffirmed an “overweight” rating on shares of Sonoco Products in a research report on Friday, April 14th. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a research report on Thursday, March 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research report on Thursday, February 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $47.17.
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Sonoco Products (NYSE:SON) traded up 0.80% during mid-day trading on Friday, hitting $53.24. 327,343 shares of the stock were exchanged. The company has a market capitalization of $5.28 billion, a PE ratio of 18.95 and a beta of 1.12. The stock has a 50 day moving average price of $52.85 and a 200 day moving average price of $52.89. Sonoco Products has a 1-year low of $45.02 and a 1-year high of $55.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 12th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.56 annualized dividend and a yield of 2.95%. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.37. Sonoco Products’s dividend payout ratio (DPR) is 52.48%.
In related news, SVP R. Howard Coker sold 9,691 shares of Sonoco Products stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $53.35, for a total value of $517,014.85. Following the completion of the sale, the senior vice president now owns 149,340 shares of the company’s stock, valued at approximately $7,967,289. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James A. Harrell III sold 556 shares of Sonoco Products stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $54.50, for a total value of $30,302.00. Following the completion of the sale, the vice president now directly owns 13,218 shares of the company’s stock, valued at approximately $720,381. The disclosure for this sale can be found here. In the last three months, insiders sold 11,131 shares of company stock valued at $595,937. 1.90% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in SON. Sunbelt Securities Inc. purchased a new stake in shares of Sonoco Products during the fourth quarter valued at $129,000. 1ST Source Bank purchased a new stake in shares of Sonoco Products during the third quarter valued at $201,000. Ray Gerald L & Associates Ltd. raised its stake in shares of Sonoco Products by 0.7% in the third quarter. Ray Gerald L & Associates Ltd. now owns 5,033 shares of the industrial products company’s stock valued at $266,000 after buying an additional 33 shares during the period. Tyers Asset Management LLC purchased a new stake in shares of Sonoco Products during the fourth quarter valued at $270,000. Finally, Creative Planning raised its stake in shares of Sonoco Products by 5.8% in the first quarter. Creative Planning now owns 5,626 shares of the industrial products company’s stock valued at $298,000 after buying an additional 309 shares during the period. 69.86% of the stock is owned by institutional investors.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing 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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