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SON

Sonoco Products

09:37
12/01/17
12/01
09:37
12/01/17
09:37

Sonoco Products sees FY18 base EPS $3.00-$3.10, consensus $3.07

Sonoco is projecting to generate approximately $415 million in cash from operations in 2017 and should spend approximately $190 million on capital investments and $155 million on cash dividends to shareholders, thus leaving free cash flow of approximately $70 million. Sonoco now expects its net-debt-to-EBITDA ratio to be approximately 2.0 times at year-end 2017. The increased debt ratio is primarily due to the $230 million acquisition of Peninsula Packaging, Inc., a thermoforming business, in March 2017, and the $170 million acquisition of Clear Lam Packaging, Inc., a flexible packaging business, in July 2017. For 2018, Sonoco is projecting cash from operations to be approximately $532 million and free cash flow to be about $150 million, after spending $220 million in capital investments and paying $162 million in dividends to shareholders. Depreciation and Amortization is projected to be $239 million in 2018. The Company expects free cash flow to more than double from 2017 due primarily to higher projected GAAP earnings and lower expected pension contributions, partially offset by higher capital expenditures and the historic practice of increasing cash dividends to shareholders.

  • 01

    Dec

  • 01

    Dec

SON Sonoco Products

08/02/17
VERT
08/02/17
UPGRADE
Target $45
VERT
Hold
Sonoco Products upgraded to Hold from Sell at Vertical Research
Vertical Research analyst Chip Dillion upgraded Sonoco Products to Hold with a $45 price target citing valuation.
08/02/17
08/02/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pfizer (PFE) upgraded to Outperform from Market Perform at BMO Capital with analyst Alex Arfaei saying he expects "positive updates" on the company's pipeline that could improve investors' view on the company. 2. Royal Caribbean (RCL) upgraded to Neutral from Sell at Goldman Sachs with analyst Stephen Grambling citing "strong" leisure trends following the company's better than expected second quarter results. 3. Illumina (ILMN) upgraded to Equal-Weight from Underweight at First Analysis with analyst Joseph Munda saying concerns regarding sequencing overcapacity in the marketplace and the potential rate of adoption for NovaSeq are diminishing based on performance in the quarter. 4. Agios Pharmaceuticals (AGIO) upgraded to Outperform from Market Perform at Leerink with analyst Michael Schmidt citing his higher-level conviction regarding the commercial opportunity for its IDH inhibitors Idhifa and ivosidenib in acute myeloid leukemia following Idhifa FDA-approval and his recent checks indicating a high degree of enthusiasm for these agents in the physician community pointing to potential good initial uptake. 5. Sonoco Products (SON) upgraded to Hold from Sell at Vertical Research with analyst Chip Dillion citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/04/17
VERT
08/04/17
UPGRADE
VERT
Hold
Sonoco Products upgraded to Hold from Sell at Vertical Research
09/06/17
BOFA
09/06/17
UPGRADE
BOFA
Buy
Sonoco Products uupgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst George Staphos upgraded Sonoco Products two notches to Buy from Underperform to reflect a margin recovery, volume improvement, portfolio optimization, and relative value. The analyst made no change to estimates and maintained a $56 price target on Sonoco shares.

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