Sonoco Products Co (NYSE:SON) – Equities research analysts at KeyCorp issued their Q1 2018 EPS estimates for Sonoco Products in a report released on Thursday. KeyCorp analyst A. Josephson anticipates that the industrial products company will earn $0.72 per share for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Sonoco Products’ Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.80 EPS, FY2018 earnings at $3.18 EPS and FY2019 earnings at $3.35 EPS.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Sonoco Products from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays upgraded shares of Sonoco Products from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $49.00 to $55.00 in a research note on Friday, December 15th. Finally, Robert W. Baird restated a “buy” rating and set a $60.00 target price on shares of Sonoco Products in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.43.
Sonoco Products (NYSE:SON) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). Sonoco Products had a return on equity of 16.63% and a net margin of 3.48%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.13%. Sonoco Products’s payout ratio is 89.66%.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Sonoco Products by 0.5% in the fourth quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock valued at $574,293,000 after purchasing an additional 50,184 shares during the last quarter. American Century Companies Inc. increased its stake in Sonoco Products by 15.7% in the third quarter. American Century Companies Inc. now owns 2,579,422 shares of the industrial products company’s stock valued at $130,132,000 after purchasing an additional 349,455 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Sonoco Products by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,372,193 shares of the industrial products company’s stock valued at $72,919,000 after purchasing an additional 8,231 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Sonoco Products by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,279,308 shares of the industrial products company’s stock valued at $64,540,000 after purchasing an additional 36,612 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Sonoco Products by 56.1% in the third quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock valued at $51,047,000 after purchasing an additional 363,692 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.
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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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