Sonoco Products Co (SON) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $0.73 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.68. The company posted revenue of $1205.68 million in the period, compared to analysts expectations of $1255.63 million. The company’s revenue was down -3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.
Many Wall Street Analysts have commented on Sonoco Products Co. Sonoco Products Co was Initiated by Goldman to “Neutral” on May 12, 2016.
Sonoco Products Co closed down -0.02 points or -0.04% at $50.94 with 4,64,333 shares getting traded on Wednesday. Post opening the session at $51.1, the shares hit an intraday low of $50.59 and an intraday high of $51.1 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jul 6, 2016, Allan H Mcleland (VP Human Resources) sold 5,875 shares at $50.00 per share price. According to the SEC, on Jul 6, 2016, James A. Iii Harrell (VP Tubes,Cores USA,CND) sold 1,000 shares at $50.00 per share price. On Jul 1, 2016, Marcy J Thompson (VP,Marketing&Innovations) sold 549 shares at $49.00 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.