Analysts Offer Predictions for Silgan Holdings Inc.’s FY2017 Earnings (SLGN)
Silgan Holdings Inc. (NASDAQ:SLGN) – Stock analysts at KeyCorp lifted their FY2017 earnings estimates for Silgan in a research report issued on Thursday. KeyCorp analyst A. Josephson now forecasts that the industrial products company will post earnings per share of $1.63 for the year, up from their previous forecast of $1.61. KeyCorp has a “Underweight” rating and a $25.00 price objective on the stock.
Several other equities analysts have also issued reports on the stock. BMO Capital Markets reiterated a “buy” rating and set a $34.00 target price on shares of Silgan in a report on Monday, November 20th. Robert W. Baird reiterated a “hold” rating and set a $32.00 target price on shares of Silgan in a report on Friday, October 27th. Zacks Investment Research lowered shares of Silgan from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Royal Bank of Canada began coverage on shares of Silgan in a report on Monday, October 9th. They set a “sector perform” rating and a $30.00 target price for the company. Finally, ValuEngine lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.75.
Silgan (NASDAQ SLGN) opened at $28.80 on Monday. Silgan has a 1-year low of $25.16 and a 1-year high of $32.50. The stock has a market cap of $3,162.18, a P/E ratio of 18.36, a PEG ratio of 1.75 and a beta of 0.52. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.96.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). Silgan had a return on equity of 32.87% and a net margin of 3.77%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, November 30th. Silgan’s dividend payout ratio (DPR) is presently 27.38%.
In other Silgan news, Director William C. Jennings sold 25,642 shares of Silgan stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $28.38, for a total value of $727,719.96. Following the completion of the sale, the director now owns 42,180 shares of the company’s stock, valued at approximately $1,197,068.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 33.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of Silgan by 79.6% during the 2nd quarter. Northern Trust Corp now owns 648,964 shares of the industrial products company’s stock valued at $20,623,000 after acquiring an additional 287,658 shares during the period. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Silgan during the 3rd quarter valued at $491,000. Wells Fargo & Company MN grew its position in shares of Silgan 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 acquiring an additional 830,485 shares during the period. JPMorgan Chase & Co. grew its position in shares of Silgan 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 acquiring an additional 3,939,145 shares during the period. Finally, BlackRock Inc. grew its position in shares of Silgan by 107.4% during the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock valued at $210,947,000 after acquiring an additional 3,437,477 shares during the period. 67.69% of the stock is owned by hedge funds and other institutional investors.
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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