Analysts Set Expectations for Sonoco Products Company’s Q1 2018 Earnings (SON)
Sonoco Products Company (NYSE:SON) – DA Davidson issued their Q1 2018 EPS estimates for Sonoco Products in a research note issued on Thursday. DA Davidson analyst S. Chercover forecasts that the industrial products company will post earnings per share of $0.68 for the quarter. DA Davidson also issued estimates for Sonoco Products’ Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.79 EPS, Q4 2018 earnings at $0.74 EPS and FY2018 earnings at $2.99 EPS.
A number of other equities analysts have also recently weighed in on SON. KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Thursday. Barclays PLC lifted their price objective on Sonoco Products from $48.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. BidaskClub downgraded Sonoco Products from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Sonoco Products in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.00.
Shares of Sonoco Products (SON) opened at 53.11 on Monday. Sonoco Products has a one year low of $47.10 and a one year high of $55.58. The stock has a market capitalization of $5.28 billion, a PE ratio of 20.16 and a beta of 1.13. The firm has a 50-day moving average price of $50.01 and a 200 day moving average price of $50.48.
Sonoco Products (NYSE:SON) last issued its earnings results on Thursday, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS.
Several large investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its position in Sonoco Products by 19.5% during the first quarter. UBS Asset Management Americas Inc. now owns 70,855 shares of the industrial products company’s stock valued at $3,750,000 after acquiring an additional 11,574 shares during the period. Neuberger Berman Group LLC grew its position in Sonoco Products by 33.3% during the first quarter. Neuberger Berman Group LLC now owns 7,965 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 1,990 shares during the period. United Services Automobile Association grew its position in Sonoco Products by 109.6% during the first quarter. United Services Automobile Association now owns 18,360 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 9,600 shares during the period. Teachers Advisors LLC grew its position in Sonoco Products by 9.4% during the first quarter. Teachers Advisors LLC now owns 116,032 shares of the industrial products company’s stock valued at $6,140,000 after acquiring an additional 9,924 shares during the period. Finally, Legal & General Group Plc grew its position in Sonoco Products by 47.3% during the first quarter. Legal & General Group Plc now owns 110,390 shares of the industrial products company’s stock valued at $5,843,000 after acquiring an additional 35,429 shares during the period. 72.46% of the stock is owned by institutional investors and hedge funds.
In other news, VP Marcy J. Thompson sold 565 shares of Sonoco Products stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, November 9th. Sonoco Products’s dividend payout ratio is currently 57.35%.
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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