Oppenheimer reiterated their outperform rating on shares of Sonoco Products (NYSE: SON) in a research report sent to investors on Wednesday morning. The firm currently has a $36.00 price target on the stock.
“In a sign of stabilization of the business, 4Q12 adjusted EPS of $0.56 beat our $0.54 est., owing to better than expected revenue growth and SG&A cost control. Management increased full year 2013 EPS guidance by $0.02 to $2.26-$2.34, owing to an after-tax decrease in expected pension expense. The company introduced 1Q13 EPS guidance of $0.50-$0.54. We maintain our 1Q13E/2013E EPS of $0.53/ $2.31 for FY2013. Maintain Outperform and $36PT.,” Oppenheimer’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase downgraded shares of Sonoco Products from a neutral rating to an underweight rating in a research note to investors on Wednesday, January 9th. They now have a $32.00 price target on the stock, down previously from $34.00. Finally, analysts at Robert W. Baird reiterated an outperform rating on shares of Sonoco Products in a research note to investors on Monday, December 10th. They now have a $35.00 price target on the stock.
One investment analyst has rated the stock with a buy rating, one has assigned an overweight rating, ten have issued a hold rating, and one has issued a sell rating to the company. The stock currently has a consensus rating of hold and an average price target of $33.44.
Shares of Sonoco Products traded up 1.16% during mid-day trading on Wednesday, hitting $32.37. Sonoco Products has a one year low of $28.61 and a one year high of $34.83. The stock’s 50-day moving average is currently $30.90. The company has a market cap of $3.323 billion and a P/E ratio of 16.75.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 8th. Investors of record on Wednesday, February 27th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, February 25th.
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