Sonoco Products (NYSE: SON) Releases Q2 2022 Earnings Guidance

Sonoco Products (NYSE: SON – Get Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $ 1.60- $ 1.70 for the period, compared to the consensus EPS estimate of $ 1.27. The company issued revenue guidance of -.

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Sonoco Products from $ 63.00 to $ 65.00 in a research note on Monday, April 18th. Wells Fargo & Company upped their target price on shares of Sonoco Products from $ 59.00 to $ 64.00 and gave the stock an equal weight rating in a research note on Tuesday, April 19th. StockNews.com cut shares of Sonoco Products from a buy rating to a hold rating in a report on Wednesday, April 27th. The Street cut shares of Sonoco Products from ab rating to a c + rating in a report on Thursday, May 19th. Finally, Seaport Res Ptn lowered shares of Sonoco Products from a buy rating to a neutral rating in a report on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $ 63.83.

NYSE SON opened at $ 52.17 on Wednesday. The company has a fifty day moving average of $ 59.24 and a two-hundred day moving average of $ 58.71. Sonoco Products has a 1 year low of $ 51.52 and a 1 year high of $ 67.82. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.81 and a current ratio of 1.31.

Sonoco Products (NYSE: SON – Get Rating) last announced its earnings results on Thursday, April 21st. The industrial products company reported $ 1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.74 by $ 0.11. Sonoco Products had a positive return on equity of 23.98% and a negative net margin of 0.71%. The firm had revenue of $ 1.77 billion during the quarter, compared to analysts’ expectations of $ 1.77 billion. During the same period in the prior year, the firm earned $ 0.90 EPS. The business’s revenue was up 30.9% on a year-over-year basis. As a group, analysts predict that Sonoco Products will post 5.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were given a $ 0.49 dividend. This is an increase from Sonoco Products’s previous quarterly dividend of $ 0.45. The ex-dividend date was Monday, May 9th. This represents a $ 1.96 annualized dividend and a yield of 3.76%. Sonoco Products’s dividend payout ratio is -502.55%.

In other news, CFO Julie C. Albrecht sold 1,693 shares of the stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $ 61.89, for a total transaction of $ 104,779.77. Following the completion of the sale, the chief financial officer now owns 54,091 shares in the company, valued at $ 3,347,691.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Richwood Investment Advisors LLC purchased a new position in Sonoco Products during the fourth quarter worth about $ 39,000. Pinnacle Holdings LLC acquired a new position in Sonoco Products during the 1st quarter worth approximately $ 58,000. Zullo Investment Group Inc. purchased a new position in shares of Sonoco Products during the 4th quarter worth approximately $ 61,000. Baird Financial Group Inc. acquired a new stake in shares of Sonoco Products in the 1st quarter valued at approximately $ 221,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Sonoco Products in the first quarter valued at approximately $ 274,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Sonoco Products Company Profile (Get Rating)

Sonoco Products Company, together with its subsidiaries, manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through two segments: Consumer Packaging and Industrial Paper Packaging. The Consumer Packaging segment round and shaped rigid paper containers; metal and peelable membrane ends and closures; thermoformed plastic trays and containers; printed flexible packaging; and global brand artwork management.

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Earnings History and Estimates for Sonoco Products (NYSE: SON)

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