Sonoco Products Company (NYSE:SON) – DA Davidson increased their FY2018 EPS estimates for shares of Sonoco Products in a report released on Thursday. DA Davidson analyst S. Chercover now anticipates that the industrial products company will post earnings per share of $2.98 for the year, up from their previous forecast of $2.95. DA Davidson has a “Neutral” rating and a $54.00 price target on the stock.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. TRADEMARK VIOLATION NOTICE: This story was first posted by BNB Daily and is the property of of BNB Daily. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.baseball-news-blog.com/2017/08/19/sonoco-products-company-to-post-fy2018-earnings-of-2-98-per-share-da-davidson-forecasts-son-updated-updated-updated.html.
SON has been the subject of a number of other research reports. Bank of America Corporation increased their target price on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a research report on Friday. BidaskClub upgraded shares of Sonoco Products from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Group LLC reiterated a “neutral” rating on shares of Sonoco Products in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, June 22nd. Finally, Vertical Research downgraded shares of Sonoco Products from a “hold” rating to a “sell” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.57.
Shares of Sonoco Products (SON) opened at 49.44 on Monday. The stock’s 50 day moving average price is $51.29 and its 200-day moving average price is $52.53. Sonoco Products has a 12-month low of $48.86 and a 12-month high of $55.58. The firm has a market capitalization of $4.98 billion, a P/E ratio of 18.77 and a beta of 1.14.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 11th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 annualized dividend and a yield of 3.16%. Sonoco Products’s dividend payout ratio (DPR) is presently 59.09%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Engines Advisors L.L.C. increased its position in shares of Sonoco Products by 0.4% in the first quarter. Financial Engines Advisors L.L.C. now owns 11,448 shares of the industrial products company’s stock valued at $606,000 after buying an additional 40 shares during the period. Global X Management Co. LLC increased its position in shares of Sonoco Products by 1.0% in the first quarter. Global X Management Co. LLC now owns 4,954 shares of the industrial products company’s stock valued at $262,000 after buying an additional 50 shares during the period. Bank of Montreal Can increased its position in shares of Sonoco Products by 0.7% in the second quarter. Bank of Montreal Can now owns 12,995 shares of the industrial products company’s stock valued at $669,000 after buying an additional 88 shares during the period. Meeder Asset Management Inc. increased its position in shares of Sonoco Products by 1.6% in the first quarter. Meeder Asset Management Inc. now owns 9,127 shares of the industrial products company’s stock valued at $483,000 after buying an additional 144 shares during the period. Finally, Wesbanco Bank Inc. increased its position in shares of Sonoco Products by 3.8% in the first quarter. Wesbanco Bank Inc. now owns 5,671 shares of the industrial products company’s stock valued at $300,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors 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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