Zacks: Analysts Expect Silgan Holdings Inc. (NASDAQ:SLGN) Will Post Earnings of $0.76 Per Share

Analysts forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will report $0.76 earnings per share for the current quarter, according to Zacks. Five analysts have issued estimates for Silgan’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.75. Silgan also posted earnings per share of $0.76 in the same quarter last year. The business is expected to issue its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Silgan will report full year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.20. For the next year, analysts expect that the firm will post earnings of $2.35 per share, with EPS estimates ranging from $2.23 to $2.45. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Silgan.

Silgan (NASDAQ:SLGN) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Silgan had a net margin of 4.46% and a return on equity of 26.45%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year.

SLGN has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. BidaskClub cut shares of Silgan from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $33.00 in a research note on Wednesday, July 17th. Finally, ValuEngine cut shares of Silgan from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $30.63.

NASDAQ SLGN traded down $0.18 on Friday, hitting $30.01. The stock had a trading volume of 189,681 shares, compared to its average volume of 477,418. Silgan has a 52-week low of $22.24 and a 52-week high of $31.69. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.49 and a current ratio of 0.98. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79. The firm has a 50-day moving average of $30.04 and a 200-day moving average of $29.85.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, August 30th. Silgan’s dividend payout ratio (DPR) is currently 21.15%.

In other news, insider Thomas James Snyder sold 10,444 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.02, for a total transaction of $323,972.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John W. Alden sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 67,331 shares in the company, valued at approximately $2,000,404.01. The disclosure for this sale can be found here. Company insiders own 30.32% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in shares of Silgan during the 2nd quarter valued at $26,000. Point72 Asset Management L.P. purchased a new stake in shares of Silgan during the 2nd quarter valued at $40,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Silgan during the 2nd quarter valued at $40,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Silgan during the 2nd quarter valued at $51,000. Finally, Huntington National Bank purchased a new stake in shares of Silgan during the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 65.78% of the company’s stock.

About Silgan

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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