Sonoco Products Company (NYSE:SON) is set to announce third quarter earning results on Thursday 22nd October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, SON to report 3Q20 income of $ 0.82 per share.
For the full year, analysts anticipate top line of $ 5157.59 million, while looking forward to income of $ 3.27 per share bottom line.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 0.73 ~ $ 0.83 per share
Full Year 2020 bottomline are predicted in a range of $ 3.60 ~ $ 3.70 per share
Click Here For More Historical Outlooks Of Sonoco Products Company
Previous Quarter Performance
Sonoco Products Company announced income for the second quarter of $ 0.55 per share, from the revenue of $ 1,245.00 million, On adjusted basis, SON reported income for the quarter of $ 0.79 per share. The quarterly earnings contracted 31.25 percent while revenues contracted 8.44 percent compared with the same quarter last year. According to street consensus, SON was expected to report 2Q20 income of $ 0.78 per share from revenue of $ 1322.66 million. The bottom line results beat street analysts by $ 0.01 or 1.28 percent, at the same time, top line results fell short of analysts by $ 77.66 million or 5.87 percent.
Stock Performance
Shares of Sonoco Products Company traded up $ 0.55 or 1.00 percent on Wednesday, reaching $ 55.67 with volume of 180.00 thousand shares. The stock opened down for the day at $ 55.08, after closing the previous day trading at $ 55.12.
According to the previous trading day, closing price of $ 55.12, representing a 47.77 % increase from the 52 week low of $ 37.30 and a 12.19 % decrease over the 52 week high of $ 62.77.
The company has a market capital of $ 5.59 billion and is part of the Consumer Cyclical sector and Packaging & Containers industry.
Recent Analyst recommendations
- On 14th October 2020, initiated by Seaport Global Securities at Buy rating, with $ 60.00 target price.
- On 13th October 2020, maintained by BMO Capital Markets at Outperform rating, with $ 60.00 target price.
- On 17th September 2020, initiated by UBS Group at Neutral rating.
Recent Stock Dividend Announcement
On July 15, 2020, the board of directors authorized quarterly dividend of $ 0.43 per share to holders of record as of the close of business on August 10, 2020, with payment date of September 10, 2020 and ex-dividend date on August 7, 2020.
Conference Call
Sonoco Products Company will be hosting a conference call at 11:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.sonoco.com
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.
