Silgan Holdings Inc. (NASDAQ:SLGN) Expected to Announce Quarterly Sales of $1.03 Billion
Equities research analysts predict that Silgan Holdings Inc. (NASDAQ:SLGN) will post sales of $1.03 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Silgan Holdings’ earnings, with estimates ranging from $1.02 billion to $1.04 billion. Silgan Holdings posted sales of $874.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.8%. The business is expected to issue its next earnings results before the market opens on Wednesday, July 26th.
On average, analysts expect that Silgan Holdings will report full year sales of $1.03 billion for the current year, with estimates ranging from $4.05 billion to $4.13 billion. For the next fiscal year, analysts expect that the company will post sales of $4.27 billion per share, with estimates ranging from $4.20 billion to $4.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The firm had revenue of $805.40 million during the quarter, compared to analysts’ expectations of $795.58 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
Several equities research analysts have recently issued reports on SLGN shares. Zacks Investment Research cut Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Barclays PLC boosted their price objective on Silgan Holdings from $27.50 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating and set a $30.00 price objective (down from $60.00) on shares of Silgan Holdings in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) cut Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 13th. Finally, BMO Capital Markets reissued a “buy” rating and set a $34.00 price objective on shares of Silgan Holdings in a research note on Sunday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.21.
Silgan Holdings (NASDAQ SLGN) traded up 0.06% during trading on Friday, hitting $31.81. The stock had a trading volume of 288,285 shares. Silgan Holdings has a 52-week low of $30.48 and a 52-week high of $32.50. The company has a 50-day moving average of $31.76 and a 200 day moving average of $51.95. The firm has a market cap of $3.51 billion, a P/E ratio of 24.97 and a beta of 0.55.
In other Silgan Holdings news, VP B Frederik Prinzen sold 3,204 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total transaction of $199,545.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Adam J. Greenlee sold 5,643 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $61.56, for a total value of $347,383.08. The disclosure for this sale can be found here. Insiders own 33.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Silgan Holdings by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 730,905 shares of the industrial products company’s stock valued at $37,408,000 after buying an additional 22,524 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Silgan Holdings during the fourth quarter valued at about $3,262,000. Guggenheim Capital LLC raised its position in shares of Silgan Holdings by 270.5% in the fourth quarter. Guggenheim Capital LLC now owns 19,423 shares of the industrial products company’s stock valued at $994,000 after buying an additional 14,180 shares during the period. AQR Capital Management LLC raised its position in shares of Silgan Holdings by 76.9% in the fourth quarter. AQR Capital Management LLC now owns 7,292 shares of the industrial products company’s stock valued at $373,000 after buying an additional 3,171 shares during the period. Finally, Norges Bank acquired a new position in shares of Silgan Holdings during the fourth quarter valued at about $36,931,000. Institutional investors and hedge funds own 33.51% of the company’s stock.
About Silgan Holdings
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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