Silgan Holdings Inc. (SLGN) Expected to Post Quarterly Sales of $1.29 Billion
Wall Street brokerages forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will report $1.29 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Silgan Holdings’ earnings. The highest sales estimate is $1.32 billion and the lowest is $1.27 billion. Silgan Holdings reported sales of $1.14 billion in the same quarter last year, which would suggest a positive year over year growth rate of 13.2%. The firm is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, 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 financial year, analysts anticipate that the firm 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 research firms that that provide coverage for Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last announced its quarterly 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 for the quarter, compared to analyst estimates of $1.03 billion. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS.
A number of equities research analysts recently weighed in on SLGN shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 target price on shares of Silgan Holdings in a research note on Sunday, July 9th. KeyCorp reiterated a “hold” rating on shares of Silgan Holdings in a research report on Friday, August 25th. Zacks Investment Research cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $30.00 price target (down from $60.00) on shares of Silgan Holdings in a research report on Monday, June 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $32.33.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 2,192 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas James Snyder sold 10,506 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $30.78, for a total value of $323,374.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,698 shares of company stock worth $597,429. 33.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in Silgan Holdings by 1.0% during the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock valued at $162,000 after buying an additional 27 shares during the period. Utah Retirement Systems lifted its position in Silgan Holdings by 1.5% during the first quarter. Utah Retirement Systems now owns 6,752 shares of the industrial products company’s stock valued at $401,000 after buying an additional 100 shares during the period. US Bancorp DE lifted its position in Silgan Holdings by 3.1% during the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock valued at $200,000 after buying an additional 101 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Silgan Holdings by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,350 shares of the industrial products company’s stock valued at $852,000 after buying an additional 200 shares during the period. Finally, State Treasurer State of Michigan lifted its position in Silgan Holdings by 1.3% during the first quarter. State Treasurer State of Michigan now owns 15,231 shares of the industrial products company’s stock valued at $904,000 after buying an additional 200 shares during the period. 67.00% of the stock is owned by institutional investors and hedge funds.
Shares of Silgan Holdings (SLGN) opened at 29.39 on Thursday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 23.34 and a beta of 0.54. The company’s 50 day moving average is $30.21 and its 200 day moving average is $30.62. Silgan Holdings has a one year low of $23.58 and a one year high of $32.50.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, August 30th. Silgan Holdings’s dividend payout ratio (DPR) is currently 29.03%.
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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