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

by · The Cerbat Gem

Sonoco Products (NYSE:SON – Get Free Report) 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.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company downgraded 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 research note on Wednesday, August 21st. Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Raymond James assumed coverage on Sonoco Products in a research note on Friday, July 19th. They set an “outperform” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Read Our Latest Report on SON

Sonoco Products Stock Performance

Shares of SON traded down $1.38 on Friday, reaching $51.14. 1,382,678 shares of the company’s stock traded hands, compared to its average volume of 588,379. The stock’s 50 day simple moving average is $54.03 and its two-hundred day simple moving average is $54.56. The stock has a market cap of $5.02 billion, a PE ratio of 17.57, a PEG ratio of 2.20 and a beta of 0.69. Sonoco Products has a 52-week low of $48.22 and a 52-week high of $61.73. The company has a current ratio of 1.30, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04.

Sonoco Products (NYSE:SON – Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating 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 firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts forecast that Sonoco Products will post 5 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

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 issued a $0.52 dividend. 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 (DPR) is presently 71.48%.

Sonoco Products Company Profile

(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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