Silgan Holdings Inc. (SLGN) Releases Q1 Earnings Guidance
Silgan Holdings Inc. (NASDAQ:SLGN) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.45-0.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.52, American Banking News.com reports. Silgan Holdings also updated its FY14 guidance to $3.10-3.30 EPS.
SLGN has been the subject of a number of recent research reports. Analysts at Merrill Lynch downgraded shares of Silgan Holdings from a buy rating to a neutral rating in a research note to investors on Friday, November 15th. On a related note, analysts at Bank of America Corp. downgraded shares of Silgan Holdings from a neutral rating to an underperform rating in a research note to investors on Friday, November 15th. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks downgraded shares of Silgan Holdings from a neutral rating to an underperform rating in a research note to investors on Thursday, November 7th. They now have a $41.00 price target on the stock. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $47.00.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.22% on Tuesday, hitting $44.80. 297,107 shares of the company’s stock traded hands. Silgan Holdings Inc. has a one year low of $41.89 and a one year high of $50.51. The stock has a 50-day moving average of $47.28 and a 200-day moving average of $47.30. The company has a market cap of $2.841 billion and a price-to-earnings ratio of 15.37.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.49 by $0.04. The company had revenue of $864.80 million for the quarter, compared to the consensus estimate of $885.07 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts predict that Silgan Holdings Inc. will post $2.80 earnings per share for the current fiscal year.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.