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

by · The Cerbat Gem

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup raised their price target 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 cut shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $54.00 to $52.00 in a report on Wednesday, August 21st. Finally, Raymond James started coverage on Sonoco Products in a research note on Friday, July 19th. They issued an “outperform” rating and a $62.00 price target for the company. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.00.

View Our Latest Report on Sonoco Products

Sonoco Products Price Performance

SON traded down $1.38 on Friday, hitting $51.14. 1,382,678 shares of the stock were exchanged, compared to its average volume of 588,379. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.20 and a beta of 0.69. 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 12 month low of $48.22 and a 12 month high of $61.73. The business has a 50-day moving average of $54.03 and a two-hundred day moving average of $54.56.

Sonoco Products (NYSE:SON – Get Free Report) last issued its quarterly 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. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 20.03%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. Sell-side analysts forecast that Sonoco Products will post 5 EPS for the current fiscal year.

Sonoco Products Announces Dividend

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

About Sonoco Products

(Get Free Report)

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.

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