Sonoco Products (NYSE:SON) Updates Q4 2024 Earnings Guidance

Sonoco Products (NYSE:SON) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.150-1.350 for the period, compared to the consensus estimate of 1.200. The company issued revenue guidance of -. 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 mid-day trading on Friday, reaching $51.14. 1,382,678 shares of the stock were exchanged, compared to its average volume of 588,379. The stock’s 50 day simple moving average is $54.03 and its 200-day simple moving average is $54.56. Sonoco Products has a one year low of $48.22 and a one year high of $61.73. The company has a market cap of $5.02 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.20 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 1.04.

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

Sonoco Products Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SON shares. Citigroup raised their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Raymond James assumed coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target for the company. Finally, Wells Fargo & Company cut Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.