Sonoco Products (NYSE:SON) Updates FY 2024 Earnings Guidance

Sonoco Products (NYSE:SON) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.050-5.250 for the period, compared to the consensus EPS estimate of 5.020. The company issued revenue guidance of -. Sonoco Products also updated its Q4 guidance to $1.15-$1.35 EPS.

Sonoco Products Stock Down 2.6 %

Shares of SON traded down $1.38 on Friday, reaching $51.14. The company’s stock had a trading volume of 1,382,678 shares, compared to its average volume of 588,379. Sonoco Products has a twelve month low of $48.22 and a twelve month high of $61.73. The stock has a market capitalization of $5.02 billion, a PE ratio of 17.57, a PEG ratio of 2.20 and a beta of 0.69. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average of $54.03 and a 200-day moving average of $54.56.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.44 by $0.05. Sonoco Products had a return on equity of 20.03% and a net margin of 4.38%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that Sonoco Products will post 5 EPS for the current year.

Sonoco Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Friday, November 8th. Sonoco Products’s payout ratio is currently 71.48%.

Analyst Ratings Changes

Several equities research analysts have commented on SON shares. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. Citigroup increased their price target on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Raymond James started coverage on Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective on the stock. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sonoco Products presently has an average rating of “Moderate Buy” and a consensus 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.