Sonoco Products Co (NYSE:SON) – Research analysts at DA Davidson upped their Q1 2018 earnings per share estimates for shares of Sonoco Products in a research note issued to investors on Thursday, Zacks Investment Research reports. DA Davidson analyst S. Chercover now forecasts that the industrial products company will post earnings of $0.74 per share for the quarter, up from their prior estimate of $0.68. DA Davidson also issued estimates for Sonoco Products’ Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $3.19 EPS and FY2019 earnings at $3.50 EPS.
Several other analysts have also recently weighed in on the company. Zacks Investment Research raised Sonoco Products from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Monday, February 26th. TheStreet cut Sonoco Products from a “b” rating to a “c+” rating in a report on Friday, February 16th. Barclays raised Sonoco Products from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $49.00 to $55.00 in a report on Friday, December 15th. Finally, KeyCorp reissued a “hold” rating on shares of Sonoco Products in a report on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $53.29.
Shares of Sonoco Products (NYSE:SON) traded down $0.41 during trading hours on Monday, reaching $48.67. The company’s stock had a trading volume of 339,378 shares, compared to its average volume of 452,712. The company has a market cap of $4,862.94, a PE ratio of 27.97, a P/E/G ratio of 3.27 and a beta of 1.19. Sonoco Products has a 12-month low of $47.00 and a 12-month high of $55.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 1.09.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.63% and a net margin of 3.48%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share.
Several hedge funds have recently made changes to their positions in the company. Green Square Capital LLC increased its stake in shares of Sonoco Products by 233.9% in the 4th quarter. Green Square Capital LLC now owns 14,033 shares of the industrial products company’s stock valued at $746,000 after acquiring an additional 9,830 shares during the last quarter. Colonial Trust Advisors bought a new stake in shares of Sonoco Products in the 4th quarter valued at about $257,000. Xact Kapitalforvaltning AB bought a new stake in shares of Sonoco Products in the 4th quarter valued at about $439,000. MetLife Investment Advisors LLC bought a new stake in shares of Sonoco Products in the 4th quarter valued at about $3,342,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Sonoco Products by 14.5% in the 4th quarter. Glenmede Trust Co. NA now owns 22,391 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 2,828 shares during the last quarter. 70.72% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.21%. Sonoco Products’s dividend payout ratio (DPR) is presently 89.66%.
TRADEMARK VIOLATION NOTICE: This news story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://ledgergazette.com/2018/03/14/q1-2018-eps-estimates-for-sonoco-products-co-raised-by-analyst-son.html.
Sonoco Products Company Profile
Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sonoco Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonoco Products and related companies with MarketBeat.com's FREE daily email newsletter.