Zacks: Brokerages Expect Silgan Holdings Inc. (SLGN) Will Announce Earnings of $0.36 Per Share
Brokerages expect Silgan Holdings Inc. (NASDAQ:SLGN) to post earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Silgan’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.35. Silgan reported earnings per share of $0.32 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The firm is expected to announce its next earnings report on Tuesday, January 29th.
According to Zacks, analysts expect that Silgan will report full-year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.06. For the next year, analysts expect that the company will post earnings of $2.23 per share, with EPS estimates ranging from $2.09 to $2.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Silgan.
Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year.
In other news, CFO Robert B. Lewis sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $24.83, for a total transaction of $620,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William T. Donovan acquired 5,000 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were purchased at an average cost of $23.75 per share, with a total value of $118,750.00. Following the acquisition, the director now owns 8,235 shares of the company’s stock, valued at approximately $195,581.25. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 75,040 shares of company stock valued at $1,851,055. Company insiders own 30.32% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Silgan by 422.0% during the third quarter. Tower Research Capital LLC TRC now owns 7,177 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 5,802 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Silgan during the second quarter valued at approximately $208,000. State of Alaska Department of Revenue grew its stake in shares of Silgan by 169.6% during the third quarter. State of Alaska Department of Revenue now owns 8,534 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 5,368 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Silgan by 118.7% during the second quarter. BNP Paribas Arbitrage SA now owns 11,379 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 6,177 shares during the last quarter. Finally, Commonwealth Bank of Australia bought a new stake in shares of Silgan during the third quarter valued at approximately $330,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:SLGN opened at $25.50 on Wednesday. Silgan has a 12-month low of $23.14 and a 12-month high of $31.05. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.17 and a quick ratio of 0.70. The stock has a market capitalization of $2.79 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, November 30th. Silgan’s payout ratio is 24.24%.
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 soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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