Sonoco Products (SON) Releases FY18 Earnings Guidance
Sonoco Products (NYSE:SON) updated its FY18 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.00-3.10 for the period, compared to the Thomson Reuters consensus estimate of $3.07. The company issued revenue guidance of ~$5.3 billion, compared to the consensus revenue estimate of $5.21 billion.Sonoco Products also updated its Q4 guidance to $0.59-0.69 EPS.
Several research firms have commented on SON. Bank of America raised shares of Sonoco Products from an underperform rating to a buy rating and set a $56.00 target price on the stock in a research note on Wednesday, September 6th. Jefferies Group reissued a hold rating and set a $48.00 target price on shares of Sonoco Products in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of Sonoco Products from a hold rating to a sell rating in a research note on Tuesday, September 19th. Barclays raised their target price on shares of Sonoco Products from $48.00 to $49.00 and gave the company an underweight rating in a research note on Friday, October 20th. Finally, Robert W. Baird reissued a buy rating and set a $60.00 target price on shares of Sonoco Products in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Sonoco Products has an average rating of Hold and a consensus target price of $52.00.
Shares of Sonoco Products (NYSE:SON) traded up $0.46 on Friday, hitting $53.51. 370,200 shares of the stock traded hands, compared to its average volume of 530,712. The firm has a market cap of $5,320.00, a PE ratio of 19.47, a P/E/G ratio of 4.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.11. Sonoco Products has a 12 month low of $47.10 and a 12 month high of $55.58.
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 paid a $0.39 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.56 annualized dividend and a dividend yield of 2.92%. Sonoco Products’s dividend payout ratio is currently 57.35%.
In other news, CFO Barry L. Saunders sold 5,645 shares of Sonoco Products stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $52.39, for a total value of $295,741.55. Following the transaction, the chief financial officer now owns 60,455 shares of the company’s stock, valued at approximately $3,167,237.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marcy J. Thompson sold 565 shares of Sonoco Products stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $51.00, for a total transaction of $28,815.00. The disclosure for this sale can be found here. Insiders sold a total of 6,937 shares of company stock worth $363,088 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.
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About Sonoco Products
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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