Sonoco Products (SON) Releases FY18 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.16-3.26 for the period, compared to the Thomson Reuters consensus estimate of $3.20. Sonoco Products also updated its Q1 guidance to $0.69-0.75 EPS.

Sonoco Products (SON) opened at $49.90 on Thursday. Sonoco Products has a fifty-two week low of $47.10 and a fifty-two week high of $55.77. The firm has a market cap of $4,988.93, a PE ratio of 18.35, a PEG ratio of 3.44 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Sonoco Products had a net margin of 5.63% and a return on equity of 16.40%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company posted $0.62 EPS. Sonoco Products’s revenue for the quarter was up 13.7% on a year-over-year basis. sell-side analysts forecast that Sonoco Products will post 2.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.13%. Sonoco Products’s dividend payout ratio is currently 57.35%.

Several equities analysts have recently weighed in on SON shares. Zacks Investment Research upgraded shares of Sonoco Products from a hold rating to a buy rating and set a $61.00 price objective on the stock in a report on Friday, January 12th. Robert W. Baird reiterated a buy rating and set a $60.00 price objective on shares of Sonoco Products in a report on Friday, November 10th. KeyCorp reiterated a hold rating on shares of Sonoco Products in a report on Sunday, December 3rd. Finally, Barclays upgraded shares of Sonoco Products from an underweight rating to an equal weight rating and upped their price objective for the company from $49.00 to $55.00 in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $53.43.

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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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