Analysts expect Silgan Holdings Inc. (NASDAQ:SLGN) to announce earnings of $0.54 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Silgan’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.57. Silgan posted earnings of $0.52 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The business is scheduled to report its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Silgan will report full year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.20. For the next financial year, analysts forecast that the firm will report earnings of $2.35 per share, with EPS estimates ranging from $2.23 to $2.45. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Silgan.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. Silgan had a return on equity of 26.74% and a net margin of 5.04%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year.
A number of equities research analysts recently issued reports on SLGN shares. TheStreet upgraded Silgan from a “c+” rating to a “b” rating in a research report on Tuesday, February 5th. BidaskClub upgraded Silgan from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded Silgan from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, April 10th. KeyCorp restated a “hold” rating on shares of Silgan in a research report on Wednesday, April 24th. Finally, ValuEngine upgraded Silgan from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.25.
Shares of SLGN stock traded up $0.03 on Wednesday, reaching $30.09. The company’s stock had a trading volume of 618,200 shares, compared to its average volume of 478,398. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.62 and a current ratio of 1.15. Silgan has a 12-month low of $22.24 and a 12-month high of $30.90. The company has a market capitalization of $3.31 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.44 annualized dividend and a dividend yield of 1.46%. Silgan’s dividend payout ratio is currently 21.15%.
In other news, insider Anthony J. Allott sold 63,490 shares of Silgan stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $28.49, for a total value of $1,808,830.10. Following the transaction, the insider now owns 972,075 shares in the company, valued at $27,694,416.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert B. Lewis sold 75,000 shares of Silgan stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $30.01, for a total value of $2,250,750.00. Following the completion of the transaction, the vice president now owns 252,117 shares in the company, valued at approximately $7,566,031.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,814 shares of company stock worth $10,370,531. Company insiders own 30.32% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SLGN. JPMorgan Chase & Co. increased its holdings in shares of Silgan by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 7,871,521 shares of the industrial products company’s stock worth $218,829,000 after buying an additional 235,700 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Silgan by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,175,819 shares of the industrial products company’s stock worth $32,687,000 after buying an additional 35,925 shares during the period. LPL Financial LLC purchased a new position in shares of Silgan in the third quarter worth about $373,000. Teachers Advisors LLC increased its holdings in shares of Silgan by 7.5% in the third quarter. Teachers Advisors LLC now owns 151,640 shares of the industrial products company’s stock worth $4,216,000 after buying an additional 10,615 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Silgan by 22.7% in the third quarter. Nordea Investment Management AB now owns 749,725 shares of the industrial products company’s stock worth $20,842,000 after buying an additional 138,627 shares during the period. Hedge funds and other institutional investors own 66.59% of the company’s stock.
Silgan Company Profile
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 pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
Featured Article: What is the NASDAQ?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Silgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan and related companies with MarketBeat.com's FREE daily email newsletter.