Sonoco Products Company (NYSE:SON) – Research analysts at KeyCorp decreased their Q3 2017 earnings per share (EPS) estimates for shares of Sonoco Products in a report issued on Thursday. KeyCorp analyst A. Josephson now expects that the industrial products company will post earnings of $0.75 per share for the quarter, down from their previous estimate of $0.76. KeyCorp also issued estimates for Sonoco Products’ Q4 2017 earnings at $0.69 EPS.
Other analysts have also recently issued reports about the company. Barclays PLC reissued an “overweight” rating on shares of Sonoco Products in a research report on Friday, April 14th. DA Davidson raised Sonoco Products from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $48.00 to $54.00 in a research report on Friday, April 21st. Jefferies Group LLC reissued a “hold” rating and issued a $48.00 price target (up from $47.00) on shares of Sonoco Products in a research report on Sunday, April 23rd. BidaskClub raised Sonoco Products from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut Sonoco Products from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Five research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $53.83.
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Shares of Sonoco Products (SON) opened at 48.82 on Monday. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 18.53 and a beta of 1.14. Sonoco Products has a 12 month low of $48.79 and a 12 month high of $55.58. The company’s 50 day moving average price is $51.15 and its 200 day moving average price is $52.46.
Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 11th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.56 annualized dividend and a yield of 3.20%. Sonoco Products’s dividend payout ratio (DPR) is 59.09%.
Several large investors have recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in Sonoco Products by 9.5% in the fourth quarter. Teachers Advisors LLC now owns 106,108 shares of the industrial products company’s stock worth $5,592,000 after buying an additional 9,179 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in Sonoco Products by 172.3% in the first quarter. Manning & Napier Advisors LLC now owns 49,542 shares of the industrial products company’s stock worth $2,620,000 after buying an additional 31,345 shares in the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in Sonoco Products by 2.0% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 39,036 shares of the industrial products company’s stock worth $2,066,000 after buying an additional 754 shares in the last quarter. Creative Planning boosted its stake in Sonoco Products by 5.8% in the first quarter. Creative Planning now owns 5,626 shares of the industrial products company’s stock worth $298,000 after buying an additional 309 shares in the last quarter. Finally, Carroll Financial Associates Inc. boosted its stake in Sonoco Products by 3.1% in the first quarter. Carroll Financial Associates Inc. now owns 40,937 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.
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.
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