Silgan Holdings Inc. (SLGN) Updates FY14 Earnings Guidance
Silgan Holdings Inc. (NASDAQ:SLGN) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.10-3.30 for the period, compared to the Thomson Reuters consensus estimate of $3.15, ARN reports. Silgan Holdings also updated its Q1 guidance to $0.45-0.55 EPS.
Silgan Holdings Inc. (NASDAQ:SLGN) traded up 0.22% on Tuesday, hitting $44.80. The stock had a trading volume of 297,107 shares. Silgan Holdings Inc. has a 52 week low of $41.89 and a 52 week high of $50.51. The stock’s 50-day moving average is $47.28 and its 200-day moving average is $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 released its earnings data 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 prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue 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.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock has an average rating of Hold and an average target price of $47.00.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
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