Sonoco Products (NYSE:SON) Updates FY 2024 Earnings Guidance

Sonoco Products (NYSE:SON) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.050-5.250 for the period, compared to the consensus estimate of 5.020. The company issued revenue guidance of -. Sonoco Products also updated its Q4 guidance to $1.15-$1.35 EPS.

Analyst Ratings Changes

SON has been the subject of a number of research reports. Citigroup increased their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company downgraded 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 report on Wednesday, August 21st. Finally, Raymond James began coverage on shares of Sonoco Products in a report on Friday, July 19th. They set an “outperform” rating and a $62.00 target price on the stock. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Sonoco Products Price Performance

Shares of SON traded down $1.38 during midday trading on Friday, hitting $51.14. 1,382,678 shares of the company traded hands, compared to its average volume of 588,379. The stock has a 50-day moving average of $54.03 and a 200-day moving average of $54.56. 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 one year low of $48.22 and a one year high of $61.73. The firm has a market cap of $5.02 billion, a P/E ratio of 17.57, a PEG ratio of 2.20 and a beta of 0.69.

Sonoco Products (NYSE:SON) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Sonoco Products had a net margin of 4.38% and a return on equity of 20.03%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. Sonoco Products’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Sonoco Products will post 5 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio is 71.48%.

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.