Wall Street analysts expect that Silgan Holdings Inc. (NASDAQ:SLGN) will report sales of $1.32 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Silgan’s earnings, with the lowest sales estimate coming in at $1.29 billion and the highest estimate coming in at $1.35 billion. Silgan posted sales of $1.31 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to announce its next quarterly earnings report on Wednesday, October 23rd.
On average, analysts expect that Silgan will report full year sales of $4.50 billion for the current fiscal year, with estimates ranging from $4.45 billion to $4.54 billion. For the next year, analysts anticipate that the company will post sales of $4.55 billion, with estimates ranging from $4.41 billion to $4.64 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Silgan.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $0.52 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis.
Several research firms recently weighed in on SLGN. ValuEngine downgraded Silgan from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Citigroup increased their target price on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $33.00 in a research report on Wednesday, July 17th. Finally, BidaskClub downgraded Silgan from a “hold” rating to a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.63.
In other Silgan news, Director John W. Alden sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $29.71, for a total transaction of $59,420.00. Following the completion of the sale, the director now directly owns 67,331 shares in the company, valued at $2,000,404.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas James Snyder sold 10,444 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.02, for a total value of $323,972.88. The disclosure for this sale can be found here. Corporate insiders own 30.32% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Silgan by 0.6% during the second quarter. Vanguard Group Inc. now owns 8,274,320 shares of the industrial products company’s stock worth $253,194,000 after acquiring an additional 51,842 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Silgan by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 7,717,243 shares of the industrial products company’s stock worth $230,206,000 after acquiring an additional 67,770 shares during the last quarter. BlackRock Inc. increased its stake in Silgan by 3.3% during the second quarter. BlackRock Inc. now owns 7,191,552 shares of the industrial products company’s stock worth $220,060,000 after acquiring an additional 231,494 shares during the last quarter. Cardinal Capital Management LLC CT grew its stake in shares of Silgan by 2.7% in the second quarter. Cardinal Capital Management LLC CT now owns 3,188,630 shares of the industrial products company’s stock valued at $97,572,000 after buying an additional 84,359 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Silgan by 6.6% in the second quarter. Wells Fargo & Company MN now owns 2,133,062 shares of the industrial products company’s stock valued at $65,272,000 after buying an additional 132,752 shares in the last quarter. Institutional investors own 65.78% of the company’s stock.
NASDAQ SLGN traded down $0.18 during trading hours on Friday, hitting $30.01. 189,681 shares of the company’s stock were exchanged, compared to its average volume of 477,418. The business’s 50 day moving average is $30.04 and its 200-day moving average is $29.85. Silgan has a 12-month low of $22.24 and a 12-month high of $31.69. The firm has a market capitalization of $3.33 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.49 and a current ratio of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, August 30th. This represents a $0.44 annualized dividend and a yield of 1.47%. Silgan’s dividend payout ratio is presently 21.15%.
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.
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