Sonoco Products (SON) Set to Announce Quarterly Earnings on Tuesday

Sonoco Products (NYSE:SON) will announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Sonoco Products had a return on equity of 22.42% and a net margin of 7.00%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. On average, analysts expect Sonoco Products to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Sonoco Products Stock Performance

Sonoco Products stock opened at $56.51 on Friday. The firm’s 50 day simple moving average is $56.93 and its 200-day simple moving average is $55.93. The company has a market cap of $5.55 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.16 and a beta of 0.68. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.10. Sonoco Products has a fifty-two week low of $49.98 and a fifty-two week high of $63.74.

Sonoco Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, May 9th. Sonoco Products’s dividend payout ratio (DPR) is 42.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TheStreet downgraded shares of Sonoco Products from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Wells Fargo & Company dropped their target price on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Finally, Citigroup dropped their target price on shares of Sonoco Products from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sonoco Products currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Insider Activity at Sonoco Products

In related news, insider Russell K. Grissett sold 2,039 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the transaction, the insider now directly owns 11,988 shares of the company’s stock, valued at $672,047.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.53, for a total transaction of $604,065.00. Following the transaction, the insider now directly owns 13,456 shares of the company’s stock, valued at $774,123.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Russell K. Grissett sold 2,039 shares of Sonoco Products stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $56.06, for a total transaction of $114,306.34. Following the completion of the sale, the insider now owns 11,988 shares of the company’s stock, valued at $672,047.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,076 shares of company stock valued at $749,002. Corporate insiders own 0.51% of the company’s stock.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.