Brokerages expect that Sonoco Products Co (NYSE:SON) will report sales of $1.27 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Sonoco Products’ earnings, with the lowest sales estimate coming in at $1.23 billion and the highest estimate coming in at $1.30 billion. Sonoco Products posted sales of $1.14 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The company is scheduled to announce 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 year, with estimates ranging from $4.97 billion to $5.04 billion. For the next year, analysts anticipate that the firm will post sales of $5.27 billion per share, with estimates ranging from $5.18 billion to $5.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Sonoco Products.
A number of research analysts have recently commented on SON shares. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research report on Thursday, October 19th. Robert W. Baird reaffirmed a “buy” rating and set a $60.00 price target on shares of Sonoco Products in a research report on Friday, November 10th. Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays upped their price target on Sonoco Products from $48.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.86.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its holdings in Sonoco Products by 1.2% during the 2nd quarter. State Street Corp now owns 6,544,078 shares of the industrial products company’s stock worth $336,491,000 after purchasing an additional 77,004 shares in the last quarter. American Century Companies Inc. lifted its holdings in Sonoco Products by 15.7% during the 3rd quarter. American Century Companies Inc. now owns 2,579,422 shares of the industrial products company’s stock worth $130,132,000 after purchasing an additional 349,455 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sonoco Products by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,363,962 shares of the industrial products company’s stock worth $68,811,000 after purchasing an additional 13,158 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Sonoco Products by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,279,308 shares of the industrial products company’s stock worth $64,540,000 after purchasing an additional 36,612 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Sonoco Products by 56.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock worth $51,047,000 after purchasing an additional 363,692 shares in the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.
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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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