Brokerages predict that Silgan Holdings Inc. (NASDAQ:SLGN) will post $972.12 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Silgan Holdings’ earnings, with the lowest sales estimate coming in at $946.00 million and the highest estimate coming in at $1.01 billion. Silgan Holdings posted sales of $805.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The firm is expected to report its next earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that Silgan Holdings will report full year sales of $972.12 million for the current financial year, with estimates ranging from $4.04 billion to $4.10 billion. For the next year, analysts anticipate that the company will report sales of $4.30 billion per share, with estimates ranging from $4.15 billion to $4.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis.
Several research analysts have recently commented on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a report on Thursday, July 13th. Robert W. Baird lowered shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Wednesday, July 19th. BidaskClub lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Bank of America Corporation lowered shares of Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Thursday, July 27th. Finally, ValuEngine lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.57.
In other news, insider Thomas James Snyder sold 10,506 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $30.78, for a total value of $323,374.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Anthony P. Andreacchi sold 2,192 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,698 shares of company stock valued at $597,429. Company insiders own 33.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Silgan Holdings by 98.3% in the 2nd quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock worth $415,881,000 after acquiring an additional 6,485,884 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Silgan Holdings by 102.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock worth $247,661,000 after acquiring an additional 3,939,145 shares during the period. Vanguard Group Inc. lifted its stake in shares of Silgan Holdings by 92.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock worth $239,715,000 after acquiring an additional 3,624,183 shares during the period. BlackRock Inc. lifted its stake in shares of Silgan Holdings by 107.4% in the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after acquiring an additional 3,437,477 shares during the period. Finally, State Street Corp lifted its stake in shares of Silgan Holdings by 107.8% in the 2nd quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock worth $63,762,000 after acquiring an additional 1,040,766 shares during the period. 65.87% of the stock is owned by institutional investors.
Silgan Holdings (SLGN) opened at $28.73 on Friday. Silgan Holdings has a fifty-two week low of $24.36 and a fifty-two week high of $32.50. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.44 and a quick ratio of 0.25. The company has a market cap of $3,204.67, a PE ratio of 18.62, a PEG ratio of 1.77 and a beta of 0.52.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 30th. Silgan Holdings’s payout ratio is 27.38%.
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Silgan Holdings Company Profile
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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