Sonoco Products (NYSE:SON) Issues Q4 2024 Earnings Guidance

Sonoco Products (NYSE:SON) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.150-1.350 for the period, compared to the consensus EPS estimate of 1.200. The company issued revenue guidance of -. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Sonoco Products Stock Performance

Shares of NYSE SON traded up $0.07 during midday trading on Thursday, reaching $52.54. 911,369 shares of the company traded hands, compared to its average volume of 612,481. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.22 and a beta of 0.68. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. The stock has a 50-day moving average price of $54.09 and a 200 day moving average price of $54.63. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73.

Sonoco Products (NYSE:SON) last released its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the business earned $1.38 earnings per share. The business’s quarterly revenue was down 4.8% on a year-over-year basis. Sell-side analysts anticipate that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued 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 dividend yield of 3.96%. Sonoco Products’s dividend payout ratio is 55.91%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SON shares. Citigroup raised their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Raymond James initiated coverage on Sonoco Products in a report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price on the stock. StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

About Sonoco Products

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.