Silgan Holdings Inc. (NASDAQ:SLGN) Expected to Announce Earnings of $0.35 Per Share
Wall Street brokerages expect Silgan Holdings Inc. (NASDAQ:SLGN) to report $0.35 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Silgan Holdings’ earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.37. Silgan Holdings reported earnings of $0.30 per share during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The firm is expected to report its next earnings results before the market opens on Wednesday, July 26th.
On average, analysts expect that Silgan Holdings will report full year earnings of $1.67 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.70. For the next year, analysts expect that the firm will post earnings of $1.89 per share, with EPS estimates ranging from $1.73 to $2.00. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The business had revenue of $805.40 million for the quarter, compared to analysts’ expectations of $795.58 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year.
Several brokerages have recently issued reports on SLGN. Zacks Investment Research downgraded Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Robert W. Baird downgraded Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Wednesday. KeyCorp reaffirmed a “hold” rating on shares of Silgan Holdings in a research report on Wednesday, April 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $32.50 price target on shares of Silgan Holdings in a research report on Monday, March 27th. Finally, ValuEngine raised Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.21.
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In other Silgan Holdings news, VP Adam J. Greenlee sold 5,643 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $61.56, for a total transaction of $347,383.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP B Frederik Prinzen sold 3,204 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $62.28, for a total transaction of $199,545.12. The disclosure for this sale can be found here. 33.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SLGN. Envestnet Asset Management Inc. boosted its position in shares of Silgan Holdings by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after buying an additional 207 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Silgan Holdings by 1.0% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock worth $162,000 after buying an additional 27 shares in the last quarter. Neuburgh Advisers LLC boosted its position in shares of Silgan Holdings by 157.5% in the first quarter. Neuburgh Advisers LLC now owns 3,296 shares of the industrial products company’s stock worth $196,000 after buying an additional 2,016 shares in the last quarter. US Bancorp DE boosted its position in shares of Silgan Holdings by 3.1% in the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after buying an additional 101 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of Silgan Holdings during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.
Silgan Holdings (SLGN) opened at 32.03 on Friday. The company has a 50 day moving average price of $31.76 and a 200 day moving average price of $51.95. The firm has a market cap of $3.53 billion, a PE ratio of 25.14 and a beta of 0.55. Silgan Holdings has a 1-year low of $30.48 and a 1-year high of $32.50.
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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