Zacks: Analysts Predict Silgan Holdings Inc. (NASDAQ: SLGN) to Report Quarterly Sales of $ 1.36 Billion
Analysts predict that Silgan Holdings Inc. (NASDAQ: SLGN) will report revenue of $ 1.36 billion for the current fiscal quarter, Zacks investment research reports. Six analysts have released estimates for Silgan’s earnings, with the lowest sales estimate at $ 1.31 billion and the highest estimate at $ 1.40 billion. Silgan posted sales of $ 1.23 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The company is expected to release its next quarterly earnings report on Tuesday, January 25.
According to Zacks, analysts expect Silgan to report annual revenue of $ 5.60 billion for the current fiscal year, with estimates ranging from $ 5.55 billion to $ 5.63 billion. For next year, analysts predict the company will post sales of $ 6.30 billion, with estimates ranging from $ 5.79 billion to $ 6.86 billion. Zacks’ sales averages are an average based on a survey of seller-side analysts who cover Silgan.
Silgan (NASDAQ: SLGN) last released its quarterly earnings data on Wednesday, October 27. The industrials company reported earnings per share (EPS) of $ 1.02 for the quarter, missing the consensus estimate of $ 1.04 of ($ 0.02). The company posted revenue of $ 1.65 billion in the quarter, compared to a consensus estimate of $ 1.59 billion. Silgan had a net margin of 6.12% and a return on equity of 26.60%. In the same quarter of the previous year, the company achieved EPS of $ 1.04. Silgan’s quarterly revenue increased 10.9% year-on-year.
A number of research analysts recently commented on the title. The Royal Bank of Canada raised its price target for Silgan’s stock from $ 49 to $ 50 and gave the company an “outperformance” rating in a research report released Thursday, October 28. Loop Capital began covering Silgan’s shares in a research report on Tuesday, October 5. They set a “buy” rating and a price target of $ 62.00 for the company. Truist began covering Silgan’s shares in a research note on Monday, September 13. They set a “conservation” rating and a price target of $ 46.00 for the company. They noted that the move was an appraisal call. BMO Capital Markets raised its price target for Silgan shares from $ 50.00 to $ 52.00 and assigned the company an “outperforming” rating in a research note on Wednesday, September 22. Finally, Raymond James began covering Silgan’s shares in a research note on Tuesday, November 23. They issued an “outperformance” rating and a price target of $ 47.00 for the company. One investment analyst rated the stock with a sell rating, five assigned a conservation rating, and eight assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $ 47.00.
Shares of SLGN opened at $ 42.84 on Monday. The Company’s fifty-day simple moving average is $ 41.75 and its two-hundred-day simple moving average is $ 41.08. The company has a debt to equity ratio of 2.19, a current ratio of 1.07, and a quick ratio of 0.70. Silgan has a one-year low at $ 35.61 and a one-year high at $ 44.55. The stock has a market cap of $ 4.73 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.46 and a beta of 0.81.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Wednesday, December 1 received a dividend of $ 0.14 per share. This represents an annualized dividend of $ 0.56 and a return of 1.31%. The ex-dividend date was Tuesday, November 30. Silgan’s dividend payout ratio is currently 18.60%.
In other Silgan news, CFO Robert B. Lewis sold 20,000 shares of the company in a trade on Monday, November 22. The shares were sold at an average price of $ 42.13, for a total trade of $ 842,600.00. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible via this link. Also, President Anthony J. Allott sold 60,000 shares of the company in a trade on Monday, November 15. The stock was sold at an average price of $ 42.47, for a total trade of $ 2,548,200.00. Disclosure of this sale can be found here. 24.38% of the shares are currently held by insiders.
A number of hedge funds have recently changed their positions in the company. Xponance Inc. increased its stake in Silgan shares by 2.9% in the third quarter. Xponance Inc. now owns 9,426 shares of the industrial products company valued at $ 362,000 after purchasing an additional 268 shares during the period. Securian Asset Management Inc. increased its stake in Silgan by 4.5% in the 3rd quarter. Securian Asset Management Inc. now owns 7,525 shares of the industrials company valued at $ 289,000 after purchasing an additional 322 shares during the period. Meeder Asset Management Inc. increased its stake in Silgan by 14.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,269 shares of the industrials company valued at $ 136,000 after purchasing an additional 409 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in Silgan by 0.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 58,902 shares of the industrials company valued at $ 2,444,000 after purchasing an additional 450 shares during the period. Finally, AGF Investments LLC strengthened its position in Silgan shares by 3.6% during the 3rd quarter. AGF Investments LLC now owns 14,724 shares of the industrial products company valued at $ 565,000 after purchasing an additional 511 shares in the last quarter. 67.95% of the shares are held by institutional investors.
Silgan Company Profile
Silgan Holdings, Inc. is engaged in the manufacture and sale of rigid packaging for consumer products. It operates in the following business sectors: metal containers, closures and plastic containers. The metal container segment includes steel and aluminum containers for human and pet food, as well as general line products.
Featured Article: Gap Down Stocks
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Silgan now?
Before you consider Silgan, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the top five stocks that top analysts quietly whisper to their clients to buy now before the wider market takes hold … and Silgan was not on the list.
Although Silgan currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here