Sonoco Products Co (SON) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.65 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.59. The company posted revenue of $1226.27 million in the period, compared to analysts expectations of $1209.30 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Many Wall Street Analysts have commented on Sonoco Products Co. DA Davidson Downgraded Sonoco Products Co on Apr 11, 2016 to ” Underperform”, Price Target of the shares are set at $42.Sonoco Products Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 18, 2016.
Sonoco Products Co opened for trading at $48.27 and hit $48.65 on the upside on Monday, eventually ending the session at $48.51, with a gain of 0.48% or 0.23 points. The heightened volatility saw the trading volume jump to 3,16,305 shares. Company has a market cap of $4,898 M.
In a different news, on Mar 15, 2016, Roger P Schrum (VP Invstr Rel & Corp Affairs) sold 1,283 shares at $45.53 per share price. According to the SEC, on Feb 25, 2016, Rodger D Fuller (VP GLOB Primary Materials Grp) sold 1,533 shares at $42.85 per share price. On Feb 25, 2016, Ritchie L Bond (VP, Treasurer, Sec.) sold 2,924 shares at $42.15 per share price, according to the Form-4 filing with the securities and exchange commission.
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging Paper and Industrial Converted Products Display and Packaging and Protective Solutions. The Company has 335 locations in 33 countries. The Companys Consumer Packaging segments operations comprise 90 plants across the world. The Companys Display and Packaging segments operations comprise 27 plants around the world including the United States Poland Mexico and Brazil. The Companys Paper and Industrial Converted Products segment provides the primary raw material for the Companys fiber-based packaging. The Protective Solutions segments products include custom-engineered paperboard-based and expanded foam protective packaging and components and temperature-assured packaging.