Sonoco Products (NYSE:SON) Announces Quarterly Earnings Results

Sonoco Products (NYSE:SON) posted its earnings results on Thursday. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04, Briefing.com reports. Sonoco Products had a net margin of 4.38% and a return on equity of 20.03%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year.

Sonoco Products Stock Down 2.6 %

Shares of NYSE SON opened at $51.14 on Monday. 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 stock has a market capitalization of $5.02 billion, a PE ratio of 17.57, a P/E/G ratio of 2.20 and a beta of 0.69. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The business’s fifty day moving average price is $54.03 and its 200-day moving average price is $54.56.

Sonoco Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Friday, November 8th. Sonoco Products’s payout ratio is 71.48%.

Analysts Set New Price Targets

SON has been the subject of several research reports. Raymond James started coverage on shares of Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price for the company. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. Citigroup raised their price target on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird reduced their price objective on Sonoco Products from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.00.

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.