Zacks: Brokerages Expect Sonoco Products Co (SON) Will Announce Quarterly Sales of $1.27 Billion

Analysts expect Sonoco Products Co (NYSE:SON) to announce $1.27 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Sonoco Products’ earnings, with the highest sales estimate coming in at $1.30 billion and the lowest estimate coming in at $1.23 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 report its next quarterly earnings results before the market opens on Thursday, February 15th.

According to Zacks, analysts expect that Sonoco Products will report full year sales of $1.27 billion for the current fiscal year, with estimates ranging from $4.97 billion to $5.04 billion. For the next year, analysts forecast that the company will post sales of $5.25 billion per share, with estimates ranging from $5.18 billion to $5.37 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for 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 for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The firm’s revenue for the quarter 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.

A number of brokerages have weighed in on SON. Barclays upgraded Sonoco Products from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $49.00 to $55.00 in a report on Friday, December 15th. Zacks Investment Research downgraded Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. KeyCorp restated a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. Finally, Robert W. Baird restated a “buy” rating and set a $60.00 price objective on shares of Sonoco Products in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Sonoco Products presently has an average rating of “Hold” and an average target price of $54.14.

Shares of Sonoco Products (NYSE:SON) opened at $54.69 on Monday. The firm has a market capitalization of $5,436.24, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 3.83 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 0.74. Sonoco Products has a 1-year low of $47.10 and a 1-year high of $55.77.

In other news, CFO Barry L. Saunders sold 5,645 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $52.39, for a total transaction of $295,741.55. Following the completion of the sale, the chief financial officer now owns 60,455 shares in the company, valued at $3,167,237.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Naples Global Advisors LLC boosted its position in shares of Sonoco Products by 10.6% during the fourth quarter. Naples Global Advisors LLC now owns 26,591 shares of the industrial products company’s stock valued at $1,413,000 after buying an additional 2,550 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Sonoco Products by 66.7% during the fourth quarter. State of Alaska Department of Revenue now owns 14,490 shares of the industrial products company’s stock valued at $769,000 after buying an additional 5,800 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Sonoco Products during the fourth quarter valued at approximately $451,000. Alpha Windward LLC purchased a new position in shares of Sonoco Products during the fourth quarter valued at approximately $558,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Sonoco Products by 5.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 532,451 shares of the industrial products company’s stock valued at $28,295,000 after buying an additional 25,293 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors.

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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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