$1.29 Billion in Sales Expected for Silgan Holdings Inc. (NASDAQ:SLGN) This Quarter
Equities analysts expect Silgan Holdings Inc. (NASDAQ:SLGN) to announce sales of $1.29 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Silgan Holdings’ earnings, with the lowest sales estimate coming in at $1.27 billion and the highest estimate coming in at $1.32 billion. Silgan Holdings reported sales of $1.14 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The business is expected to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Silgan Holdings will report full-year sales of $1.29 billion for the current fiscal year, with estimates ranging from $4.03 billion to $4.13 billion. For the next fiscal year, analysts expect that the company will post sales of $4.26 billion per share, with estimates ranging from $4.16 billion to $4.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. Silgan Holdings’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share.
SLGN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Silgan Holdings from a “sell” rating to a “hold” rating in a research report on Monday, April 17th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $30.00 target price (down previously from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. BidaskClub downgraded shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine raised shares of Silgan Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 31st. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.36.
Silgan Holdings (SLGN) traded up 0.23% during trading on Friday, hitting $30.49. The stock had a trading volume of 349,722 shares. The stock’s 50-day moving average price is $31.36 and its 200-day moving average price is $49.36. Silgan Holdings has a 1-year low of $27.98 and a 1-year high of $64.98. The company has a market capitalization of $3.36 billion, a P/E ratio of 24.22 and a beta of 0.54.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
In other news, VP Adam J. Greenlee sold 5,643 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 33.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Guggenheim Capital LLC increased its stake 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 worth $994,000 after buying an additional 14,180 shares during the last quarter. AQR Capital Management LLC increased its stake 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 worth $373,000 after buying an additional 3,171 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Silgan Holdings during the fourth quarter worth about $256,000. Fox Run Management L.L.C. acquired a new stake in shares of Silgan Holdings during the first quarter worth about $293,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Silgan Holdings by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the industrial products company’s stock worth $564,000 after buying an additional 200 shares during the last quarter. 36.00% of the stock is owned by hedge funds and other institutional investors.
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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