Silgan Holdings Inc. (SLGN) Expected to Announce Quarterly Sales of $1.29 Billion
Equities research analysts predict 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 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 posted sales of $1.14 billion in the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The company is scheduled to announce its next earnings results 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 fiscal year, analysts anticipate 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 sell-side research firms that follow Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ 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 quarter last year, the business earned $0.60 earnings per share.
A number of equities analysts have recently weighed in on SLGN shares. Robert W. Baird cut shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) cut shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 13th. BidaskClub cut shares of Silgan Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research cut shares of Silgan Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Finally, Bank of America Corporation cut shares of Silgan Holdings from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Silgan Holdings presently has an average rating of “Hold” and a consensus target price of $31.36.
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Silgan Holdings (NASDAQ:SLGN) traded up 0.23% during mid-day trading on Friday, reaching $30.49. 349,722 shares of the company traded hands. The stock’s 50 day moving average price is $31.36 and its 200 day moving average price is $49.36. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 24.22 and a beta of 0.54. Silgan Holdings has a 52 week low of $27.98 and a 52 week high of $64.98.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.18%. Silgan Holdings’s dividend payout ratio (DPR) is presently 29.03%.
In other news, VP Adam J. Greenlee sold 5,643 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 33.10% of the company’s stock.
A number of large investors have recently modified their holdings of SLGN. Guggenheim Capital LLC boosted 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 boosted 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 approximately $256,000. Fox Run Management L.L.C. acquired a new stake in shares of Silgan Holdings during the first quarter worth approximately $293,000. Finally, Louisiana State Employees Retirement System boosted 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 currently 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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