Silgan Holdings Inc. to Post Q4 2017 Earnings of $0.31 Per Share, KeyCorp Forecasts (SLGN)
Silgan Holdings Inc. (NASDAQ:SLGN) – Analysts at KeyCorp lifted their Q4 2017 EPS estimates for shares of Silgan Holdings in a report issued on Sunday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $0.31 per share for the quarter, up from their previous forecast of $0.28. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Silgan Holdings’ FY2018 earnings at $1.73 EPS.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Silgan Holdings had a return on equity of 32.87% and a net margin of 3.77%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “Silgan Holdings Inc. to Post Q4 2017 Earnings of $0.31 Per Share, KeyCorp Forecasts (SLGN)” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/01/silgan-holdings-inc-to-post-q4-2017-earnings-of-0-31-per-share-keycorp-forecasts-slgn.html.
SLGN has been the subject of several other research reports. Royal Bank Of Canada began coverage on shares of Silgan Holdings in a research report on Monday, October 9th. They set a “sector perform” rating and a $30.00 price objective for the company. ValuEngine lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird lowered shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $31.57.
Silgan Holdings (SLGN) traded up 0.41% during mid-day trading on Wednesday, hitting $29.37. 90,251 shares of the stock were exchanged. The company has a 50-day moving average of $29.10 and a 200-day moving average of $30.46. The stock has a market capitalization of $3.24 billion, a PE ratio of 23.33 and a beta of 0.53. Silgan Holdings has a 52 week low of $24.36 and a 52 week high of $32.50.
Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Silgan Holdings by 79.6% in the 2nd quarter. Northern Trust Corp now owns 648,964 shares of the industrial products company’s stock worth $20,623,000 after acquiring an additional 287,658 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Silgan Holdings by 106.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,608,013 shares of the industrial products company’s stock valued at $51,104,000 after buying an additional 830,485 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Silgan Holdings by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 3,918,778 shares of the industrial products company’s stock valued at $232,618,000 after buying an additional 247,984 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Silgan Holdings by 102.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock valued at $247,661,000 after buying an additional 3,939,145 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Silgan Holdings by 100.0% during the 2nd quarter. Swiss National Bank now owns 126,800 shares of the industrial products company’s stock valued at $4,030,000 after buying an additional 63,400 shares in the last quarter. Hedge funds and other institutional investors own 66.53% of the company’s stock.
In other news, VP Anthony P. Andreacchi sold 2,192 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert B. Lewis sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $29.70, for a total transaction of $207,900.00. The disclosure for this sale can be found here. Insiders sold a total of 19,698 shares of company stock valued at $597,429 in the last 90 days. Company insiders own 33.10% of the company’s stock.
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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