Sonoco Products (SON) Updates FY18 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.16-3.26 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.20. Sonoco Products also updated its Q1 guidance to $0.69-0.75 EPS.

Sonoco Products (NYSE SON) traded down $1.93 on Thursday, reaching $48.90. The company had a trading volume of 195,439 shares, compared to its average volume of 470,747. Sonoco Products has a fifty-two week low of $47.10 and a fifty-two week high of $55.77. The company has a market capitalization of $4,988.93, a price-to-earnings ratio of 18.35, a PEG ratio of 3.44 and a beta of 1.12. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 0.74.

Sonoco Products (NYSE:SON) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. equities research analysts anticipate that Sonoco Products will post 2.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.19%. Sonoco Products’s dividend payout ratio is 57.35%.

Several analysts have issued reports on SON shares. KeyCorp restated a hold rating on shares of Sonoco Products in a research note on Sunday, December 3rd. Barclays upped their price objective on Sonoco Products from $48.00 to $49.00 and gave the company an underweight rating in a research note on Friday, October 20th. Zacks Investment Research upgraded Sonoco Products from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research note on Friday, January 12th. Finally, Robert W. Baird restated a buy rating and issued a $60.00 price objective on shares of Sonoco Products in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Sonoco Products currently has an average rating of Hold and an average price target of $53.43.

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About Sonoco Products

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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