Sonoco Products (NYSE:SON) Issues Q4 2024 Earnings Guidance

Sonoco Products (NYSE:SON) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.150-1.350 for the period, compared to the consensus estimate of 1.200. The company issued revenue guidance of -. Sonoco Products also updated its FY 2024 guidance to 5.050-5.250 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SON shares. Wells Fargo & Company cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $54.00 to $52.00 in a research report on Wednesday, August 21st. Raymond James assumed coverage on shares of Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price objective on the stock. Citigroup upped their target price on Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Sonoco Products Stock Up 0.1 %

Shares of NYSE SON traded up $0.07 during mid-day trading on Thursday, reaching $52.54. 911,369 shares of the company’s stock traded hands, compared to its average volume of 612,481. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.85. Sonoco Products has a 1-year low of $48.22 and a 1-year high of $61.73. The stock has a market cap of $5.16 billion, a P/E ratio of 14.10, a PEG ratio of 2.22 and a beta of 0.68. The business has a 50-day simple moving average of $54.09 and a 200 day simple moving average of $54.63.

Sonoco Products (NYSE:SON) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. Sonoco Products had a net margin of 5.57% and a return on equity of 20.10%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. On average, analysts expect that Sonoco Products will post 5 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.96%. Sonoco Products’s dividend payout ratio (DPR) is currently 55.91%.

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.