Sonoco Products (NYSE:SON) Posts Earnings Results, Beats Estimates By $0.07 EPS

Sonoco Products (NYSE:SON) released its quarterly earnings data on Tuesday. The industrial products company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07, Briefing.com reports. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.67 billion. Sonoco Products had a net margin of 7.00% and a return on equity of 22.42%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS.

Sonoco Products Price Performance

SON stock traded down $1.23 during midday trading on Tuesday, reaching $56.03. 515,877 shares of the company’s stock traded hands, compared to its average volume of 431,165. The company has a 50-day simple moving average of $56.96 and a two-hundred day simple moving average of $55.98. The company has a quick ratio of 1.10, a current ratio of 1.76 and a debt-to-equity ratio of 1.25. Sonoco Products has a 1-year low of $49.98 and a 1-year high of $63.74. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 2.17 and a beta of 0.68.

Sonoco Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from Sonoco Products’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 3.71%. Sonoco Products’s dividend payout ratio is 42.50%.

Insiders Place Their Bets

In other Sonoco Products news, VP Adam Wood sold 537 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the completion of the sale, the vice president now owns 28,273 shares in the company, valued at approximately $1,612,691.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeffrey S. Tomaszewski sold 10,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.53, for a total transaction of $604,065.00. Following the completion of the sale, the insider now owns 13,456 shares in the company, valued at $774,123.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Adam Wood sold 537 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $57.04, for a total value of $30,630.48. Following the transaction, the vice president now directly owns 28,273 shares in the company, valued at approximately $1,612,691.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,076 shares of company stock valued at $749,002. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SON shares. Wells Fargo & Company cut their price target on shares of Sonoco Products from $58.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Citigroup dropped their price objective on Sonoco Products from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Finally, TheStreet downgraded shares of Sonoco Products from a “b-” rating to a “c+” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.00.

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.