Equities analysts expect Sonoco (NYSE:SON) to announce sales of $1.34 billion for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Sonoco’s earnings. The highest sales estimate is $1.37 billion and the lowest is $1.32 billion. Sonoco reported sales of $1.24 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 19th.
According to Zacks, analysts expect that Sonoco will report full year sales of $5.41 billion for the current fiscal year, with estimates ranging from $5.33 billion to $5.48 billion. For the next financial year, analysts forecast that the business will post sales of $5.51 billion per share, with estimates ranging from $5.36 billion to $5.68 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Sonoco.
Sonoco (NYSE:SON) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). Sonoco had a net margin of 3.79% and a return on equity of 17.02%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business earned $0.62 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year.
Shares of SON traded down $0.09 during midday trading on Tuesday, hitting $51.74. The stock had a trading volume of 1,398,102 shares, compared to its average volume of 545,222. Sonoco has a twelve month low of $46.55 and a twelve month high of $55.77. The company has a market capitalization of $5,148.47, a price-to-earnings ratio of 18.54, a P/E/G ratio of 3.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.61 and a quick ratio of 1.16.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 11th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.17%. This is an increase from Sonoco’s previous quarterly dividend of $0.39. Sonoco’s payout ratio is currently 55.91%.
In related news, SVP R. Howard Coker sold 4,777 shares of Sonoco stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $52.00, for a total value of $248,404.00. Following the sale, the senior vice president now owns 173,311 shares of the company’s stock, valued at $9,012,172. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rodger D. Fuller sold 13,974 shares of Sonoco stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $51.05, for a total value of $713,372.70. Following the completion of the sale, the senior vice president now directly owns 72,174 shares in the company, valued at approximately $3,684,482.70. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Sonoco by 0.5% during the fourth quarter. BlackRock Inc. now owns 10,807,162 shares of the industrial products company’s stock worth $574,293,000 after buying an additional 50,184 shares during the last quarter. Bank of New York Mellon Corp increased its position in Sonoco by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,372,193 shares of the industrial products company’s stock worth $72,919,000 after buying an additional 8,231 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sonoco by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,279,308 shares of the industrial products company’s stock worth $64,540,000 after buying an additional 36,612 shares during the last quarter. Janus Henderson Group PLC increased its position in Sonoco by 56.1% during the third quarter. Janus Henderson Group PLC now owns 1,011,830 shares of the industrial products company’s stock worth $51,047,000 after buying an additional 363,692 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Sonoco by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 840,649 shares of the industrial products company’s stock worth $44,672,000 after buying an additional 21,272 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.
Sonoco Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sonoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco and related companies with MarketBeat.com's FREE daily email newsletter.