FY2019 Earnings Estimate for Sonoco Products Co Issued By KeyCorp (SON)
Sonoco Products Co (NYSE:SON) – Equities research analysts at KeyCorp lifted their FY2019 earnings per share estimates for shares of Sonoco Products in a research report issued on Wednesday, April 10th. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings per share of $3.50 for the year, up from their prior forecast of $3.47. KeyCorp has a “Hold” rating on the stock.
Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Thursday, February 14th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Sonoco Products had a return on equity of 18.94% and a net margin of 5.82%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS.
SON opened at $62.63 on Monday. Sonoco Products has a fifty-two week low of $49.71 and a fifty-two week high of $62.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.40 and a quick ratio of 0.95. The stock has a market cap of $6.26 billion, a PE ratio of 18.58, a PEG ratio of 3.81 and a beta of 1.01.
In other news, SVP R. Howard Coker sold 6,474 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $59.78, for a total transaction of $387,015.72. Following the completion of the sale, the senior vice president now directly owns 212,341 shares of the company’s stock, valued at approximately $12,693,744.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodger D. Fuller sold 6,224 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $59.90, for a total value of $372,817.60. The disclosure for this sale can be found here. Insiders have sold a total of 20,829 shares of company stock valued at $1,245,466 over the last ninety days. Company insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SON. Oregon Public Employees Retirement Fund raised its stake in shares of Sonoco Products by 5,213.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,066,704 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 2,027,805 shares in the last quarter. Norges Bank bought a new position in shares of Sonoco Products in the 4th quarter valued at approximately $55,542,000. BlackRock Inc. raised its stake in shares of Sonoco Products by 3.1% in the 4th quarter. BlackRock Inc. now owns 11,331,928 shares of the industrial products company’s stock valued at $602,065,000 after acquiring an additional 336,758 shares in the last quarter. Morgan Stanley raised its stake in shares of Sonoco Products by 82.9% in the 3rd quarter. Morgan Stanley now owns 689,382 shares of the industrial products company’s stock valued at $38,261,000 after acquiring an additional 312,414 shares in the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of Sonoco Products in the 4th quarter valued at approximately $14,338,000. 74.49% of the stock is owned by institutional investors.
Sonoco Products Company Profile
Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.
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