Sonoco Products (NYSE:SON) Updates Q3 Earnings Guidance

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.

Sonoco Products (NYSE:SON) last issued its quarterly earnings results on Thursday, July 22nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.30 billion. Sonoco Products had a net margin of 3.77% and a return on equity of 18.20%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. Research analysts anticipate that Sonoco Products will post 3.6 earnings per share for the current fiscal year.

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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