Sonoco Products (NYSE:SON) Releases FY 2019 Earnings Guidance

Sonoco Products (NYSE:SON) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.52-3.62 for the period, compared to the Thomson Reuters consensus estimate of $3.58. Sonoco Products also updated its FY19 guidance to $3.52-3.62 EPS.

Several equities research analysts have commented on the company. Goldman Sachs Group cut Metcash from a conviction-buy rating to a neutral rating in a research note on Monday, June 24th. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a buy rating in a research note on Friday, July 12th. Wells Fargo & Co set a $58.00 target price on Sonoco Products and gave the company a hold rating in a research note on Monday, April 22nd. Vertical Research cut Sonoco Products from a hold rating to a sell rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets set a $76.00 target price on Gilead Sciences and gave the company a buy rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $58.86.

Shares of Sonoco Products stock opened at $60.92 on Friday. Sonoco Products has a 12-month low of $50.30 and a 12-month high of $66.57. The company has a market cap of $6.17 billion, a PE ratio of 17.61, a P/E/G ratio of 3.68 and a beta of 0.94. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $64.79.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Sonoco Products had a return on equity of 19.55% and a net margin of 5.61%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that Sonoco Products will post 3.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, August 8th. Sonoco Products’s dividend payout ratio is currently 51.04%.

In related news, VP Roger P. Schrum sold 812 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $62.25, for a total value of $50,547.00. Following the sale, the vice president now owns 7,938 shares in the company, valued at approximately $494,140.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rodger D. Fuller sold 5,085 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $60.25, for a total value of $306,371.25. Following the completion of the sale, the senior vice president now owns 72,978 shares in the company, valued at approximately $4,396,924.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,381 shares of company stock worth $758,537. Company insiders own 1.30% of the company’s stock.

About Sonoco Products

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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