Sonoco Products (NYSE:SON) Releases Q4 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.15-$1.35 for the period, compared to the consensus estimate of $1.20. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. Citigroup raised their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Raymond James initiated coverage on shares of Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Sonoco Products Stock Down 2.6 %

Shares of Sonoco Products stock traded down $1.38 on Friday, reaching $51.14. 1,382,678 shares of the company were exchanged, compared to its average volume of 588,379. The stock’s 50 day moving average price is $54.03 and its 200-day moving average price is $54.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The company has a market cap of $5.02 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 20.03%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, equities analysts forecast that Sonoco Products will post 5 EPS for the current year.

Sonoco Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.07%. Sonoco Products’s dividend payout ratio (DPR) is presently 71.48%.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.