Sonoco Products Company (SON) Set to Announce Quarterly Earnings on Thursday
Sonoco Products Company (NYSE:SON) is set to issue its quarterly earnings data before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Sonoco Products has set its Q3 guidance at $0.71-0.77 EPS and its FY17 guidance at $2.73-2.80 EPS.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company earned $0.73 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts expect Sonoco Products to post $2.75 EPS for the current fiscal year and $3.01 EPS for the next fiscal year.
Shares of Sonoco Products Company (SON) opened at 51.13 on Thursday. Sonoco Products Company has a 12 month low of $47.10 and a 12 month high of $55.58. The stock has a market capitalization of $5.08 billion, a PE ratio of 19.41 and a beta of 1.13. The company’s 50-day moving average is $49.20 and its 200-day moving average is $50.53.
In other Sonoco Products news, VP Marcy J. Thompson sold 565 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.00, for a total value of $28,815.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.
A number of research analysts have recently weighed in on SON shares. BidaskClub upgraded shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC restated a “neutral” rating on shares of Sonoco Products in a report on Wednesday, June 28th. Robert W. Baird upgraded shares of Sonoco Products from a “neutral” rating to an “outperform” rating and raised their target price for the company from $55.00 to $60.00 in a research note on Wednesday, July 19th. Vertical Research lowered shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Finally, Bank of America Corporation raised their target price on shares of Sonoco Products from $55.00 to $56.00 and gave the company an “underperform” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $51.83.
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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