Sonoco Products Company (NYSE:SON) - Analysts at DA Davidson raised their FY2018 EPS estimates for Sonoco Products in a research report issued to clients and investors on Thursday. DA Davidson analyst S. Chercover now anticipates that the industrial products company will post earnings of $2.98 per share for the year, up from their previous forecast of $2.95. DA Davidson currently has a “Neutral” rating and a $54.00 price objective on the stock.
Sonoco Products (NYSE:SON) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Sonoco Products had a return on equity of 16.64% and a net margin of 5.61%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS.
A number of other equities research analysts also recently issued reports on the stock. Bank of America Corporation increased their target price on shares of Sonoco Products from $55.00 to $56.00 and gave the stock an “underperform” rating in a research report on Friday. Vertical Research downgraded shares of Sonoco Products from a “hold” rating to a “sell” rating in a research report on Friday. Robert W. Baird upgraded shares of Sonoco Products from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $60.00 in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “neutral” rating on shares of Sonoco Products in a research report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, June 22nd. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.57.
Shares of Sonoco Products (SON) opened at 49.44 on Monday. The firm has a market capitalization of $4.98 billion, a P/E ratio of 18.77 and a beta of 1.14. The stock’s 50 day moving average price is $51.29 and its 200-day moving average price is $52.53. Sonoco Products has a 12-month low of $48.86 and a 12-month high of $55.58.
Hedge funds have recently bought and sold shares of the company. United Services Automobile Association raised its stake in Sonoco Products by 109.6% in the first quarter. United Services Automobile Association now owns 18,360 shares of the industrial products company’s stock valued at $972,000 after buying an additional 9,600 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Sonoco Products by 7.0% in the first quarter. Ameritas Investment Partners Inc. now owns 38,856 shares of the industrial products company’s stock valued at $2,056,000 after buying an additional 2,549 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Sonoco Products by 2,582.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 24,085 shares of the industrial products company’s stock valued at $1,275,000 after buying an additional 23,187 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Sonoco Products by 8.4% in the first quarter. Russell Investments Group Ltd. now owns 96,899 shares of the industrial products company’s stock valued at $5,128,000 after buying an additional 7,478 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Sonoco Products by 47.3% in the first quarter. Legal & General Group Plc now owns 110,390 shares of the industrial products company’s stock valued at $5,843,000 after buying an additional 35,429 shares during the period. Institutional investors own 74.07% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 11th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.56 dividend on an annualized basis and a yield of 3.16%. Sonoco Products’s payout ratio is presently 59.09%.
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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