Sonoco Products (NYSE:SON) Releases Earnings Results, Beats Estimates By $0.02 EPS

Sonoco Products (NYSE:SON) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02, Briefing.com reports. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. Sonoco Products’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 earnings per share.

Sonoco Products Stock Performance

Shares of SON stock traded down $1.03 during trading hours on Friday, hitting $51.64. 1,064,259 shares of the company were exchanged, compared to its average volume of 755,106. The firm has a fifty day simple moving average of $54.26 and a 200 day simple moving average of $56.32. The company has a current ratio of 1.30, a quick ratio of 0.83 and a debt-to-equity ratio of 1.04. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.31 and a beta of 0.68.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.03%. Sonoco Products’s payout ratio is currently 52.53%.

Analyst Ratings Changes

Several research firms recently issued reports on SON. Wells Fargo & Company dropped their target price on shares of Sonoco Products from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Citigroup decreased their target price on shares of Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Raymond James initiated 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 for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Sonoco Products has a consensus rating of “Moderate Buy” and an average target price of $58.67.

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.