Sonoco Products (SON) to Issue Quarterly Dividend of $0.52 on December 10th

Sonoco Products (NYSE:SON) announced a quarterly dividend on Tuesday, October 15th, Wall Street Journal reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.52 per share by the industrial products company on Tuesday, December 10th. This represents a $2.08 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Friday, November 8th.

Sonoco Products has decreased its dividend by an average of 4.3% per year over the last three years. Sonoco Products has a dividend payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sonoco Products to earn $5.30 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 39.2%.

Sonoco Products Stock Down 0.6 %

Shares of SON opened at $50.25 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.91 and a current ratio of 2.36. The company has a 50-day simple moving average of $53.98 and a 200-day simple moving average of $54.51. Sonoco Products has a 52 week low of $48.22 and a 52 week high of $61.73. The firm has a market capitalization of $4.94 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.09 and a beta of 0.69.

Sonoco Products (NYSE:SON) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Sonoco Products had a return on equity of 19.92% and a net margin of 4.38%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Sonoco Products will post 5.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SON shares. Citigroup lifted their price target on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Robert W. Baird decreased their target price on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday. Raymond James started coverage on shares of Sonoco Products in a research report on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target for the company. Finally, Wells Fargo & Company downgraded 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 report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.00.

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.