Sonoco Products (NYSE:SON) Updates Q4 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.15-$1.35 for the period, compared to the consensus EPS estimate of $1.20. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Sonoco Products Stock Down 2.6 %

Shares of NYSE:SON traded down $1.38 during trading on Friday, hitting $51.14. 1,382,678 shares of the company’s stock traded hands, compared to its average volume of 588,379. The company has a 50-day moving average price of $54.03 and a 200-day moving average price of $54.56. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. 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 company has a market cap of $5.02 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69.

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

Sonoco Products Dividend Announcement

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

Wall Street Analysts Forecast Growth

SON has been the topic of a number of analyst reports. Raymond James assumed coverage on Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 price objective on the stock. Wells Fargo & Company lowered shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Finally, Citigroup lifted their price objective on shares of Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Sonoco Products Company Profile

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.