Sonoco Products Co. (NYSE:SON) will be releasing its earnings data on Thursday, October 20th. Sonoco Products has set its Q3 guidance at $0.65-0.70 EPS and its FY16 guidance at $2.68-2.74 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.
Sonoco Products (NYSE:SON) last released its earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. The firm earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Sonoco Products had a net margin of 4.37% and a return on equity of 17.66%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. On average, analysts expect Sonoco Products to post $2.72 EPS for the current fiscal year and $2.90 EPS for the next fiscal year.
Sonoco Products Co. (NYSE:SON) opened at 50.57 on Tuesday. The company’s 50-day moving average is $51.75 and its 200 day moving average is $49.60. The firm has a market capitalization of $5.07 billion, a PE ratio of 23.97 and a beta of 1.01. Sonoco Products Co. has a 1-year low of $36.56 and a 1-year high of $53.57.
In related news, VP Robert L. Puechl sold 1,389 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $51.23, for a total value of $71,158.47. Following the completion of the transaction, the vice president now directly owns 22,629 shares of the company’s stock, valued at $1,159,283.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mancil J. Sanders sold 16,254 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $52.00, for a total transaction of $845,208.00. Following the completion of the transaction, the chief executive officer now directly owns 187,296 shares of the company’s stock, valued at $9,739,392. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC boosted its position in Sonoco Products by 60.0% in the second quarter. Mycio Wealth Partners LLC now owns 2,400 shares of the company’s stock valued at $119,000 after buying an additional 900 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Sonoco Products by 82,533.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,479 shares of the company’s stock worth $123,000 after buying an additional 2,476 shares during the period. Quadrature Capital Ltd bought a new position in Sonoco Products during the second quarter worth approximately $216,000. Reliance Trust Co. of Delaware boosted its position in Sonoco Products by 7.6% in the second quarter. Reliance Trust Co. of Delaware now owns 7,342 shares of the company’s stock worth $365,000 after buying an additional 518 shares during the period. Finally, Cantab Capital Partners LLP boosted its position in Sonoco Products by 174.9% in the second quarter. Cantab Capital Partners LLP now owns 7,747 shares of the company’s stock worth $385,000 after buying an additional 4,929 shares during the period. 68.97% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on SON. Bank of America Corp. downgraded shares of Sonoco Products from a “neutral” rating to an “underperform” rating in a report on Monday, October 3rd. They noted that the move was a valuation call. Jefferies Group raised their price target on shares of Sonoco Products from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Vertical Group cut shares of Sonoco Products from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Zacks Investment Research raised shares of Sonoco Products from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Finally, Barclays PLC raised their price target on shares of Sonoco Products from $40.00 to $44.00 and gave the stock an “underweight” rating in a research note on Monday, July 25th. Six analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.25.
Sonoco Products Company Profile
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of 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.
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