Equities analysts predict that Silgan Holdings Inc. (NASDAQ:SLGN) will announce sales of $984.99 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Silgan’s earnings, with the lowest sales estimate coming in at $952.00 million and the highest estimate coming in at $1.01 billion. Silgan posted sales of $805.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.3%. The company is expected to announce its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Silgan will report full year sales of $984.99 million for the current financial year, with estimates ranging from $4.25 billion to $4.51 billion. For the next financial year, analysts expect that the company will post sales of $4.43 billion per share, with estimates ranging from $4.25 billion to $4.59 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Silgan.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $995.70 million for the quarter, compared to analyst estimates of $970.24 million. Silgan had a return on equity of 30.15% and a net margin of 6.59%. Silgan’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share.
A number of analysts have recently issued reports on SLGN shares. Zacks Investment Research raised Silgan from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Monday, February 5th. Vertical Research raised Silgan from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price target on shares of Silgan in a research note on Monday, November 20th. Barclays raised Silgan from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $35.00 in a research note on Monday, February 12th. Finally, KeyCorp reaffirmed a “sell” rating and issued a $25.00 price target on shares of Silgan in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.20.
In related news, CFO Robert B. Lewis sold 15,000 shares of Silgan stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $29.01, for a total transaction of $435,150.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director D Greg Horrigan sold 69,121 shares of Silgan stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $28.69, for a total value of $1,983,081.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 468,655 shares of company stock worth $13,206,189. 33.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Silgan by 0.7% during the fourth quarter. BlackRock Inc. now owns 6,120,141 shares of the industrial products company’s stock worth $179,870,000 after buying an additional 45,343 shares in the last quarter. Wells Fargo & Company MN raised its position in Silgan by 5.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,788,054 shares of the industrial products company’s stock valued at $52,551,000 after purchasing an additional 90,428 shares during the period. American Century Companies Inc. raised its position in Silgan by 22.4% in the fourth quarter. American Century Companies Inc. now owns 1,768,586 shares of the industrial products company’s stock valued at $51,979,000 after purchasing an additional 323,252 shares during the period. Dimensional Fund Advisors LP raised its position in Silgan by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,716,471 shares of the industrial products company’s stock valued at $50,515,000 after purchasing an additional 81,201 shares during the period. Finally, Deprince Race & Zollo Inc. raised its position in Silgan by 63.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,409,945 shares of the industrial products company’s stock valued at $41,438,000 after purchasing an additional 549,657 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Shares of Silgan (SLGN) traded down $0.57 during trading hours on Friday, hitting $28.27. The stock had a trading volume of 2,088,471 shares, compared to its average volume of 661,453. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.35 and a quick ratio of 0.60. The firm has a market capitalization of $3,190.14, a price-to-earnings ratio of 17.62, a PEG ratio of 1.38 and a beta of 0.53. Silgan has a 12-month low of $27.21 and a 12-month high of $32.50.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.10 per share. This is an increase from Silgan’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, March 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. Silgan’s dividend payout ratio (DPR) is presently 14.88%.
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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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