Sonoco Products (NYSE:SON) to Post Q3 2024 Earnings of $1.49 Per Share, Seaport Res Ptn Forecasts

Sonoco Products (NYSE:SON) – Equities researchers at Seaport Res Ptn boosted their Q3 2024 earnings estimates for shares of Sonoco Products in a research report issued on Tuesday, August 6th. Seaport Res Ptn analyst M. Weintraub now expects that the industrial products company will earn $1.49 per share for the quarter, up from their prior estimate of $1.44. The consensus estimate for Sonoco Products’ current full-year earnings is $5.09 per share.

A number of other equities analysts have also recently weighed in on SON. Wells Fargo & Company decreased their price objective on shares of Sonoco Products from $55.00 to $54.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Raymond James initiated coverage on shares of Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective for the company. StockNews.com lowered shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Citigroup cut their target price on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Sonoco Products currently has an average rating of “Moderate Buy” and an average target price of $58.67.

Sonoco Products Stock Performance

NYSE:SON opened at $48.99 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The firm has a 50-day moving average of $53.19 and a two-hundred day moving average of $56.04. The stock has a market cap of $4.81 billion, a P/E ratio of 12.37, a PEG ratio of 1.93 and a beta of 0.68. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 EPS.

Sonoco Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.25%. Sonoco Products’s dividend payout ratio (DPR) is presently 52.53%.

Institutional Investors Weigh In On Sonoco Products

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new stake in Sonoco Products during the fourth quarter worth about $969,000. Brown Advisory Inc. grew its position in Sonoco Products by 105.0% in the 4th quarter. Brown Advisory Inc. now owns 724,637 shares of the industrial products company’s stock worth $40,485,000 after purchasing an additional 371,096 shares during the last quarter. Speece Thorson Capital Group Inc. grew its position in Sonoco Products by 18.2% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 266,036 shares of the industrial products company’s stock worth $14,863,000 after purchasing an additional 41,006 shares during the last quarter. Sei Investments Co. grew its position in Sonoco Products by 6.9% in the 1st quarter. Sei Investments Co. now owns 1,363,937 shares of the industrial products company’s stock worth $78,890,000 after purchasing an additional 88,407 shares during the last quarter. Finally, Invenomic Capital Management LP grew its position in Sonoco Products by 49.7% in the 4th quarter. Invenomic Capital Management LP now owns 97,813 shares of the industrial products company’s stock worth $5,465,000 after purchasing an additional 32,460 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

About Sonoco Products

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.