Wall Street brokerages forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will report sales of $1.30 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Silgan’s earnings, with the lowest sales estimate coming in at $1.27 billion and the highest estimate coming in at $1.33 billion. Silgan reported sales of $1.18 billion in the same quarter last year, which would suggest a positive year over year growth rate of 10.2%. The company is expected to announce its next quarterly earnings results on Wednesday, July 28th.
According to Zacks, analysts expect that Silgan will report full-year sales of $5.39 billion for the current fiscal year, with estimates ranging from $5.26 billion to $5.50 billion. For the next fiscal year, analysts expect that the firm will report sales of $5.47 billion, with estimates ranging from $5.39 billion to $5.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Silgan.
Silgan (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, April 28th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.04. Silgan had a return on equity of 29.86% and a net margin of 6.33%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis.
In related news, insider Thomas James Snyder sold 10,216 shares of Silgan stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $42.40, for a total transaction of $433,158.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP B Frederik Prinzen sold 4,752 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $43.14, for a total transaction of $205,001.28. The disclosure for this sale can be found here. Company insiders own 29.37% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Capital Asset Advisory Services LLC acquired a new stake in Silgan during the fourth quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its position in Silgan by 137.3% during the fourth quarter. Meeder Asset Management Inc. now owns 852 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 493 shares during the last quarter. CI Investments Inc. lifted its position in Silgan by 406.1% during the fourth quarter. CI Investments Inc. now owns 2,758 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 2,213 shares during the last quarter. IFP Advisors Inc lifted its position in Silgan by 18.5% during the fourth quarter. IFP Advisors Inc now owns 2,813 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 439 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in shares of Silgan in the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 67.12% of the company’s stock.
Shares of NASDAQ SLGN traded up $0.56 during mid-day trading on Thursday, hitting $42.15. The company had a trading volume of 331,030 shares, compared to its average volume of 382,375. The company has a market cap of $4.65 billion, a P/E ratio of 14.48, a PEG ratio of 2.55 and a beta of 0.75. The company has a 50-day moving average price of $42.68. The company has a quick ratio of 0.89, a current ratio of 1.58 and a debt-to-equity ratio of 2.48. Silgan has a one year low of $30.68 and a one year high of $44.55.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, May 28th. Silgan’s payout ratio is currently 18.30%.
Silgan Company Profile
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. 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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