$1.27 Billion in Sales Expected for Sonoco Products Co (SON) This Quarter
Equities research analysts predict that Sonoco Products Co (NYSE:SON) will post $1.27 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Sonoco Products’ earnings, with estimates ranging from $1.23 billion to $1.30 billion. Sonoco Products posted sales of $1.14 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The business is expected to issue its next earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Sonoco Products will report full-year sales of $1.27 billion for the current financial year, with estimates ranging from $4.97 billion to $5.04 billion. For the next fiscal year, analysts expect that the business will post sales of $5.25 billion per share, with estimates ranging from $5.18 billion to $5.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Sonoco Products.
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 firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share.
In related news, SVP Vicki B. Arthur sold 727 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $53.00, for a total transaction of $38,531.00. Following the sale, the senior vice president now directly owns 33,998 shares in the company, valued at approximately $1,801,894. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Barry L. Saunders sold 5,645 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 60,455 shares in the company, valued at $3,167,237.45. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SON. Oppenheimer Asset Management Inc. grew its position in Sonoco Products by 1.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,411 shares of the industrial products company’s stock worth $484,000 after buying an additional 177 shares in the last quarter. People s United Financial Inc. grew its position in Sonoco Products by 1.8% during the second quarter. People s United Financial Inc. now owns 15,732 shares of the industrial products company’s stock worth $809,000 after buying an additional 275 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Sonoco Products by 1.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,395 shares of the industrial products company’s stock worth $864,000 after buying an additional 292 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Sonoco Products by 3.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,568 shares of the industrial products company’s stock worth $492,000 after buying an additional 338 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Sonoco Products by 1.2% during the second quarter. Ameritas Investment Partners Inc. now owns 39,341 shares of the industrial products company’s stock worth $2,022,000 after buying an additional 485 shares in the last quarter. Institutional investors own 72.04% of the company’s stock.
Shares of Sonoco Products (NYSE SON) opened at $53.73 on Friday. The stock has a market capitalization of $5,340.00, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 3.77 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 one year low of $47.10 and a one year high of $55.77.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.90%. Sonoco Products’s payout ratio is 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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