Wall Street brokerages expect Silgan Holdings Inc. (NASDAQ:SLGN) to post $1.29 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Silgan Holdings’ earnings, with the highest sales estimate coming in at $1.32 billion and the lowest estimate coming in at $1.27 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 company is scheduled to report its next earnings report before the market opens on Wednesday, October 25th.

According to Zacks, analysts expect that Silgan Holdings will report full-year sales of $1.29 billion for the current financial year, with estimates ranging from $4.03 billion to $4.13 billion. For the next fiscal year, analysts expect that the business will post sales of $4.26 billion per share, with estimates ranging from $4.16 billion to $4.41 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Silgan Holdings.

Silgan Holdings (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS.

Several research analysts have recently issued reports on the stock. 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. Goldman Sachs Group Inc lowered shares of 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. Robert W. Baird lowered shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, July 19th. BidaskClub lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Bank of America Corporation lowered shares of Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.00.

In other news, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $30.78, for a total transaction of $323,374.68. The disclosure for this sale can be found here. Insiders sold 19,698 shares of company stock worth $597,429 over the last quarter. 33.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SLGN. FMR LLC increased its holdings in Silgan Holdings by 98.3% during the second quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock worth $415,881,000 after buying an additional 6,485,884 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Silgan Holdings by 102.2% during the second quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock worth $247,661,000 after buying an additional 3,939,145 shares during the last quarter. Vanguard Group Inc. increased its holdings in Silgan Holdings by 92.5% during the second quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock worth $239,715,000 after buying an additional 3,624,183 shares during the last quarter. BlackRock Inc. increased its holdings in Silgan Holdings by 107.4% during the second quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after buying an additional 3,437,477 shares during the last quarter. Finally, State Street Corp increased its holdings in Silgan Holdings by 107.8% during the second quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock worth $63,762,000 after buying an additional 1,040,766 shares during the last quarter. Institutional investors and hedge funds own 66.96% of the company’s stock.

Silgan Holdings (SLGN) opened at 28.61 on Friday. The firm has a market capitalization of $3.16 billion, a PE ratio of 22.72 and a beta of 0.53. The firm’s 50-day moving average price is $29.21 and its 200-day moving average price is $30.45. Silgan Holdings has a 1-year low of $24.36 and a 1-year high of $32.50.

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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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