Sonoco Products (SON) Posts Earnings Results, Misses Estimates By $0.01 EPS

Sonoco Products (NYSE:SON) released its quarterly earnings data on Thursday. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01), Bloomberg Earnings reports. The company had revenue of $1.30 billion for 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%. Sonoco Products’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. Sonoco Products updated its Q1 guidance to $0.69-0.75 EPS and its FY18 guidance to $3.16-3.26 EPS.

Shares of Sonoco Products (NYSE:SON) traded down $1.78 during midday trading on Thursday, reaching $49.05. 125,761 shares of the company traded hands, compared to its average volume of 466,305. Sonoco Products has a twelve month low of $47.10 and a twelve month high of $55.77. The company has a market cap of $4,988.93, a PE ratio of 18.35, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 28th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.18%. Sonoco Products’s payout ratio is 57.35%.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research report on Thursday, October 19th. Barclays raised their price target on shares of Sonoco Products from $48.00 to $49.00 and gave the company an “underweight” rating in a research report on Friday, October 20th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 price target on shares of Sonoco Products in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.43.

A number of hedge funds and other institutional investors have recently made changes to their positions in SON. Janus Henderson Group PLC lifted its position in Sonoco Products by 56.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock valued at $51,047,000 after acquiring an additional 363,692 shares in the last quarter. American Century Companies Inc. lifted its position in shares of 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 buying an additional 349,455 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Sonoco Products during the 3rd quarter worth approximately $15,695,000. Allianz Asset Management GmbH lifted its position in shares of Sonoco Products by 743.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 235,196 shares of the industrial products company’s stock worth $11,865,000 after buying an additional 207,320 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Sonoco Products by 376.8% during the 3rd quarter. Stifel Financial Corp now owns 166,379 shares of the industrial products company’s stock worth $8,393,000 after buying an additional 131,485 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History for Sonoco Products (NYSE:SON)

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