Sonoco (SON) Updates Q2 Earnings Guidance

Sonoco (NYSE:SON) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.83-0.89 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.82. Sonoco also updated its FY18 guidance to $3.22-3.32 EPS.

NYSE SON opened at $49.93 on Thursday. Sonoco has a 12 month low of $46.55 and a 12 month high of $55.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.09 and a current ratio of 1.56. The stock has a market capitalization of $4,970.39, a price-to-earnings ratio of 17.90, a P/E/G ratio of 3.34 and a beta of 1.12.

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Sonoco (NYSE:SON) last posted its earnings results on Thursday, February 15th. The industrial products company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. Sonoco had a net margin of 3.48% and a return on equity of 16.63%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. analysts predict that Sonoco will post 3.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 11th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.28%. This is a boost from Sonoco’s previous quarterly dividend of $0.39. Sonoco’s dividend payout ratio is currently 55.91%.

Several analysts have recently issued reports on SON shares. UBS started coverage on shares of Sonoco in a research report on Friday, April 13th. They set a buy rating and a $55.00 price target on the stock. Zacks Investment Research raised shares of Sonoco from a hold rating to a buy rating and set a $59.00 price target on the stock in a research report on Monday, February 5th. Vertical Research raised shares of Sonoco from a hold rating to a buy rating in a research report on Friday, March 23rd. TheStreet cut shares of Sonoco from a b rating to a c+ rating in a research report on Friday, February 16th. Finally, Bank of America cut shares of Sonoco from a buy rating to a neutral rating and set a $59.00 price target on the stock. in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $53.88.

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About Sonoco

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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