Silgan Holdings Inc. (NASDAQ:SLGN) Expected to Post Quarterly Sales of $1.03 Billion

Equities research analysts predict that Silgan Holdings Inc. (NASDAQ:SLGN) will post sales of $1.03 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Silgan’s earnings. The highest sales estimate is $1.08 billion and the lowest is $983.00 million. Silgan reported sales of $1.07 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The company is expected to announce its next earnings results on Tuesday, February 4th.

According to Zacks, analysts expect that Silgan will report full-year sales of $4.48 billion for the current year, with estimates ranging from $4.43 billion to $4.54 billion. For the next financial year, analysts forecast that the business will post sales of $4.50 billion, with estimates ranging from $4.37 billion to $4.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Silgan.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Silgan had a return on equity of 26.05% and a net margin of 4.37%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share.

Several equities analysts have recently issued reports on SLGN shares. ValuEngine downgraded Silgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded Silgan from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded Silgan from a “hold” rating to a “sell” rating and set a $32.00 target price for the company. in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.67.

Shares of NASDAQ SLGN traded up $0.10 during midday trading on Friday, hitting $31.05. 331,800 shares of the company’s stock were exchanged, compared to its average volume of 460,898. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.01 and a quick ratio of 0.57. The stock’s 50 day moving average price is $30.45 and its 200-day moving average price is $30.14. The firm has a market cap of $3.43 billion, a P/E ratio of 14.93, a PEG ratio of 1.87 and a beta of 0.76. Silgan has a twelve month low of $22.24 and a twelve month high of $31.69.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.42%. Silgan’s dividend payout ratio (DPR) is 21.15%.

In other Silgan news, Director John W. Alden sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $29.71, for a total value of $59,420.00. Following the completion of the sale, the director now directly owns 67,331 shares in the company, valued at $2,000,404.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 30.32% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC acquired a new stake in Silgan in the second quarter worth approximately $26,000. Quest Capital Management Inc. ADV bought a new position in shares of Silgan in the third quarter valued at $36,000. C M Bidwell & Associates Ltd. bought a new position in shares of Silgan in the second quarter valued at $40,000. Point72 Asset Management L.P. bought a new position in shares of Silgan in the second quarter valued at $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Silgan in the second quarter valued at $51,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Silgan Company Profile

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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