Analysts expect that Silgan Holdings Inc. (NASDAQ:SLGN) will report $1.30 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Silgan’s earnings. The lowest sales estimate is $1.27 billion and the highest is $1.35 billion. Silgan posted sales of $1.27 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The business is expected to announce its next earnings results on Wednesday, October 24th.
On average, analysts expect that Silgan will report full year sales of $4.38 billion for the current year, with estimates ranging from $4.33 billion to $4.47 billion. For the next financial year, analysts forecast that the business will report sales of $4.43 billion per share, with estimates ranging from $4.32 billion to $4.53 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Silgan.
Silgan (NASDAQ:SLGN) last released its earnings results on Wednesday, July 25th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. Silgan had a return on equity of 28.00% and a net margin of 7.37%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS.
A number of analysts have issued reports on the company. BidaskClub lowered Silgan from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research lowered Silgan from a “buy” rating to a “hold” rating in a report on Friday, May 25th. Jefferies Financial Group assumed coverage on Silgan in a report on Friday, May 18th. They issued a “buy” rating and a $33.00 target price on the stock. UBS Group assumed coverage on Silgan in a report on Wednesday, June 20th. They issued a “sell” rating and a $25.00 target price on the stock. Finally, KeyCorp raised Silgan from an “underweight” rating to a “sector weight” rating in a report on Monday, May 7th. Five analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.00.
SLGN opened at $27.24 on Friday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. The company has a current ratio of 1.11, a quick ratio of 0.57 and a debt-to-equity ratio of 2.59. Silgan has a 12-month low of $26.18 and a 12-month high of $31.05.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, August 31st. Silgan’s payout ratio is presently 24.24%.
In other news, VP Anthony P. Andreacchi sold 1,843 shares of Silgan stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $27.15, for a total transaction of $50,037.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leigh J. Abramson acquired 7,500 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were purchased at an average cost of $27.36 per share, for a total transaction of $205,200.00. Following the acquisition, the director now directly owns 7,500 shares in the company, valued at approximately $205,200. The disclosure for this purchase can be found here. 30.32% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Silgan by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,139,894 shares of the industrial products company’s stock valued at $30,584,000 after buying an additional 100,755 shares in the last quarter. California Public Employees Retirement System boosted its stake in Silgan by 14.2% in the 2nd quarter. California Public Employees Retirement System now owns 44,665 shares of the industrial products company’s stock valued at $1,198,000 after buying an additional 5,547 shares in the last quarter. Paloma Partners Management Co boosted its stake in Silgan by 10.0% in the 2nd quarter. Paloma Partners Management Co now owns 31,339 shares of the industrial products company’s stock valued at $841,000 after buying an additional 2,844 shares in the last quarter. Bank of America Corp DE boosted its stake in Silgan by 3.3% in the 2nd quarter. Bank of America Corp DE now owns 203,597 shares of the industrial products company’s stock valued at $5,462,000 after buying an additional 6,457 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Silgan by 4.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 45,275 shares of the industrial products company’s stock valued at $1,215,000 after buying an additional 1,931 shares in the last quarter. 67.46% of the stock is currently owned by institutional investors.
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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