Sonoco Products Company (NYSE:SON) - Investment analysts at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for Sonoco Products in a research note issued on Thursday. Jefferies Group analyst P. Ng now expects that the industrial products company will earn $0.76 per share for the quarter, down from their previous forecast of $0.78. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Sonoco Products’ FY2017 earnings at $2.77 EPS and FY2018 earnings at $3.10 EPS.
SON has been the subject of several other reports. Robert W. Baird raised Sonoco Products from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $60.00 in a report on Wednesday, July 19th. Zacks Investment Research downgraded Sonoco Products from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Barclays PLC reissued an “overweight” rating on shares of Sonoco Products in a report on Friday, April 14th. Vertical Research downgraded Sonoco Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Finally, DA Davidson raised Sonoco Products from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $48.00 to $54.00 in a report on Friday, April 21st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $53.83.
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Shares of Sonoco Products (NYSE SON) opened at 49.54 on Monday. The firm’s 50-day moving average is $51.15 and its 200 day moving average is $52.46. The firm has a market capitalization of $4.99 billion, a PE ratio of 18.81 and a beta of 1.14. Sonoco Products has a 52 week low of $48.79 and a 52 week high of $55.58.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Sonoco Products had a net margin of 5.61% and a return on equity of 16.64%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business posted $0.73 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 11th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, August 9th. Sonoco Products’s dividend payout ratio is presently 59.09%.
Large investors have recently modified their holdings of the company. Pictet Asset Management Ltd. bought a new stake in shares of Sonoco Products during the first quarter valued at $106,000. IFP Advisors Inc increased its stake in shares of Sonoco Products by 13.2% in the first quarter. IFP Advisors Inc now owns 2,077 shares of the industrial products company’s stock valued at $110,000 after buying an additional 242 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Sonoco Products by 445.4% in the first quarter. Cranbrook Wealth Management LLC now owns 2,449 shares of the industrial products company’s stock valued at $130,000 after buying an additional 2,000 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Sonoco Products by 11.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,264 shares of the industrial products company’s stock valued at $173,000 after buying an additional 336 shares in the last quarter. Finally, Clinton Group Inc. bought a new stake in shares of Sonoco Products during the first quarter valued at $208,000. 74.07% of the stock is owned by hedge funds and other institutional investors.
Sonoco Products Company Profile
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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