Sonoco Products (SON) Updates Q1 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.69-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.72. Sonoco Products also updated its FY18 guidance to $3.16-3.26 EPS.

Shares of Sonoco Products (NYSE SON) opened at $49.90 on Thursday. Sonoco Products has a 1-year low of $47.10 and a 1-year high of $55.77. The stock has a market capitalization of $4,988.93, a P/E 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 issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue was up 13.7% on a year-over-year basis. equities research analysts expect that Sonoco Products will post 2.8 EPS for the current year.

The company 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 dividend on an annualized basis and a dividend yield of 3.13%. Sonoco Products’s dividend payout ratio is presently 57.35%.

SON has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Sonoco Products from a hold rating to a buy rating and set a $56.00 price objective for the company in a report on Tuesday. Robert W. Baird reiterated a buy rating and issued a $60.00 price target on shares of Sonoco Products in a research report on Friday, November 10th. Barclays upgraded shares of Sonoco Products from an underweight rating to an equal weight rating and lifted their price target for the company from $49.00 to $55.00 in a research report on Friday, December 15th. Finally, KeyCorp reiterated a hold rating on shares of Sonoco Products in a research report on Sunday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price 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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