Sonoco Products (NYSE:SON) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.87 to $0.93 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.92. Sonoco Products also updated its FY 2021 guidance to $3.500-$3.600 EPS.
A number of brokerages have recently weighed in on SON. Seaport Global Securities reiterated a neutral rating on shares of Sonoco Products in a research report on Thursday, April 22nd. Wells Fargo & Company reissued an equal weight rating and issued a $69.00 price objective on shares of Sonoco Products in a report on Wednesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Sonoco Products from $61.00 to $63.00 in a report on Monday, April 19th. Seven equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus price target of $63.33.
SON stock traded down $2.58 on Thursday, reaching $63.06. The company’s stock had a trading volume of 45,230 shares, compared to its average volume of 383,978. The business has a fifty day simple moving average of $66.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.27 and a quick ratio of 0.96. The company has a market capitalization of $6.34 billion, a P/E ratio of 31.22, a P/E/G ratio of 3.67 and a beta of 0.83. Sonoco Products has a 52 week low of $48.20 and a 52 week high of $69.83.
In other news, EVP Rodger D. Fuller sold 7,204 shares of the firm’s stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $67.95, for a total transaction of $489,511.80. Following the completion of the sale, the executive vice president now directly owns 83,430 shares of the company’s stock, valued at approximately $5,669,068.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP James A. Harrell III sold 794 shares of the firm’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $66.00, for a total value of $52,404.00. Following the sale, the vice president now directly owns 23,370 shares of the company’s stock, valued at $1,542,420. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,100 shares of company stock valued at $752,759. 0.56% of the stock is currently owned by corporate insiders.
About Sonoco Products
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 provides paper 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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