Zacks: Analysts Expect Silgan Holdings Inc. (NASDAQ:SLGN) Will Post Quarterly Sales of $1.32 Billion
Analysts expect that Silgan Holdings Inc. (NASDAQ:SLGN) will announce $1.32 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Silgan’s earnings. The highest sales estimate is $1.35 billion and the lowest is $1.29 billion. Silgan posted sales of $1.31 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The company is expected to issue its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Silgan will report full-year sales of $4.50 billion for the current fiscal year, with estimates ranging from $4.45 billion to $4.54 billion. For the next fiscal year, analysts expect that the company will report sales of $4.55 billion, with estimates ranging from $4.41 billion to $4.64 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Silgan.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share.
NASDAQ SLGN traded up $0.24 during trading hours on Friday, reaching $30.17. The company had a trading volume of 217,300 shares, compared to its average volume of 480,312. The stock has a 50-day moving average of $30.05 and a 200 day moving average of $29.83. Silgan has a 1-year low of $22.24 and a 1-year high of $31.69. The company has a current ratio of 0.98, a quick ratio of 0.49 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $3.32 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.79.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, August 30th. Silgan’s dividend payout ratio is currently 21.15%.
In other news, Director John W. Alden sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $29.71, for a total transaction of $59,420.00. Following the completion of the sale, the director now owns 67,331 shares of the company’s stock, valued at $2,000,404.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas James Snyder sold 10,444 shares of Silgan stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.02, for a total transaction of $323,972.88. The disclosure for this sale can be found here. Company insiders own 30.32% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new position in shares of Silgan in the second quarter valued at $26,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Silgan during the second quarter worth about $40,000. Point72 Asset Management L.P. bought a new stake in shares of Silgan during the second quarter worth about $40,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Silgan during the second quarter worth about $51,000. Finally, Huntington National Bank acquired a new position in shares of Silgan in the second quarter valued at approximately $53,000. 65.78% of the stock is currently owned by institutional investors and hedge funds.
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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