Silgan Holdings Inc. Forecasted to Earn Q1 2018 Earnings of $0.35 Per Share (NASDAQ:SLGN)

Silgan Holdings Inc. (NASDAQ:SLGN) – Equities researchers at KeyCorp issued their Q1 2018 earnings estimates for Silgan in a research report issued on Thursday, according to Zacks Investment Research. KeyCorp analyst A. Josephson expects that the industrial products company will post earnings of $0.35 per share for the quarter. KeyCorp has a “Sell” rating and a $25.00 price objective on the stock. KeyCorp also issued estimates for Silgan’s Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.38 EPS and FY2019 earnings at $2.10 EPS.

Silgan (NASDAQ:SLGN) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $995.70 million during the quarter, compared to the consensus estimate of $970.24 million. Silgan had a net margin of 6.59% and a return on equity of 30.15%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Silgan from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Monday, February 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 target price on shares of Silgan in a research report on Monday, November 20th. Vertical Research raised shares of Silgan from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Silgan in a research report on Friday, October 27th. Finally, Barclays raised shares of Silgan from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $35.00 in a report on Monday. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $31.20.

Shares of Silgan (SLGN) traded down $0.02 during midday trading on Monday, reaching $27.97. 731,400 shares of the company’s stock traded hands, compared to its average volume of 673,538. The company has a current ratio of 0.38, a quick ratio of 0.17 and a debt-to-equity ratio of 3.96. The company has a market capitalization of $3,089.34, a P/E ratio of 17.07, a P/E/G ratio of 1.34 and a beta of 0.49. Silgan has a twelve month low of $27.21 and a twelve month high of $32.50.

In related 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 transaction of $727,719.96. Following the transaction, the director now directly owns 42,180 shares of the company’s stock, valued at $1,197,068.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 33.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. boosted its stake in Silgan by 162.3% in the fourth quarter. Assetmark Inc. now owns 4,320 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 2,673 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Silgan in the fourth quarter valued at approximately $158,000. Cubist Systematic Strategies LLC acquired a new stake in Silgan in the third quarter valued at approximately $167,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Silgan in the fourth quarter valued at approximately $199,000. Finally, Breton Hill Capital Ltd. acquired a new stake in Silgan in the third quarter valued at approximately $218,000. Institutional investors own 66.83% of the company’s stock.

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Silgan 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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