Sonoco Products (NYSE:SON) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Sonoco Products (NYSE:SON) released its quarterly earnings results on Thursday. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05, Briefing.com reports. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 earnings per share.

Sonoco Products Price Performance

Shares of SON traded down $1.38 during mid-day trading on Friday, reaching $51.14. The company had a trading volume of 1,382,668 shares, compared to its average volume of 616,114. 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 company has a market capitalization of $5.03 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.20 and a beta of 0.68. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The company’s 50-day moving average is $54.08 and its 200-day moving average is $54.61.

Sonoco Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s payout ratio is 55.91%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SON shares. Raymond James assumed coverage on shares of Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective on the stock. Citigroup upped their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

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.