Sonoco Products (NYSE:SON) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Sonoco Products (NYSE:SON) issued its earnings results on Wednesday. The industrial products company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02, Briefing.com reports. Sonoco Products had a net margin of 5.86% and a return on equity of 20.79%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The company’s revenue was down 4.8% compared to the same quarter last year.

Sonoco Products Stock Performance

Shares of SON opened at $53.87 on Thursday. The company’s 50 day simple moving average is $54.60 and its 200-day simple moving average is $56.38. The firm has a market cap of $5.29 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. Sonoco Products has a 12-month low of $48.22 and a 12-month high of $61.73. The company has a current ratio of 1.31, a quick ratio of 0.83 and a debt-to-equity ratio of 1.08.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, August 9th. Sonoco Products’s dividend payout ratio is currently 52.53%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SON. Citigroup lowered their price objective on Sonoco Products from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company dropped their price target on shares of Sonoco Products from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. StockNews.com downgraded shares of Sonoco Products from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, Raymond James initiated coverage on shares of Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.