Analysts Anticipate Sonoco Products Co (SON) Will Post Quarterly Sales of $1.25 Billion
Brokerages expect Sonoco Products Co (NYSE:SON) to report $1.25 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Sonoco Products’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.20 billion. Sonoco Products posted sales of $1.14 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Sonoco Products will report full-year sales of $1.25 billion for the current year, with estimates ranging from $4.93 billion to $5.04 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.21 billion per share, with estimates ranging from $5.08 billion to $5.31 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Sonoco Products.
Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year.
Shares of Sonoco Products (NYSE:SON) traded up $0.29 on Friday, hitting $53.80. The stock had a trading volume of 572,422 shares, compared to its average volume of 335,332. Sonoco Products has a 12-month low of $47.10 and a 12-month high of $55.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.11 and a current ratio of 1.59. The stock has a market cap of $5,318.94, a price-to-earnings ratio of 19.97, a PEG ratio of 4.10 and a beta of 1.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors 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 dividend on an annualized basis and a yield of 2.90%. Sonoco Products’s dividend payout ratio (DPR) is 57.35%.
In related news, VP Marcy J. Thompson sold 565 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Barry L. Saunders sold 5,645 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $52.39, for a total value of $295,741.55. Following the completion of the transaction, the chief financial officer now owns 60,455 shares of the company’s stock, valued at approximately $3,167,237.45. The disclosure for this sale can be found here. Insiders sold a total of 6,937 shares of company stock valued at $363,088 in the last 90 days. 1.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of SON. Bank of Montreal Can raised its stake in Sonoco Products by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock worth $669,000 after acquiring an additional 88 shares during the last quarter. ING Groep NV purchased a new position in Sonoco Products in the 2nd quarter worth $622,000. Janney Montgomery Scott LLC raised its stake in Sonoco Products by 6.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 23,875 shares of the industrial products company’s stock worth $1,228,000 after acquiring an additional 1,343 shares during the last quarter. Speece Thorson Capital Group Inc. raised its stake in Sonoco Products by 0.5% in the 2nd quarter. Speece Thorson Capital Group Inc. now owns 287,503 shares of the industrial products company’s stock worth $14,783,000 after acquiring an additional 1,384 shares during the last quarter. Finally, World Asset Management Inc raised its stake in Sonoco Products by 0.8% in the 2nd quarter. World Asset Management Inc now owns 6,896 shares of the industrial products company’s stock worth $355,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.
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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