Silgan Holdings Inc. (NASDAQ:SLGN) Expected to Post Quarterly Sales of $1.58 Billion
Brokers expect Silgan Holdings Inc. (NASDAQ: SLGN – Get Rating) to report sales of $1.58 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates of Silgan’s earnings, with the highest sales estimate at $1.64 billion and the lowest estimate at $1.50 billion. Silgan posted sales of $1.35 billion in the same quarter last year, indicating a positive year-over-year growth rate of 17%. The company is expected to announce its next results on Monday, January 1.
On average, analysts expect Silgan to report annual revenue of $6.68 billion for the current fiscal year, with estimates ranging from $6.37 billion to $6.93 billion. dollars. For next year, analysts expect the company to post sales of $6.79 billion, with estimates ranging from $6.22 billion to $7.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts who provide coverage for Silgan.
Silgan Inc (NASDAQ:SLGN – Get Rating) last released its quarterly results on Wednesday, April 27. The industrial products company reported earnings per share (EPS) of $0.78 for the quarter, beating consensus analyst estimates of $0.77 by $0.01. Silgan had a return on equity of 25.33% and a net margin of 6.30%. The company posted revenue of $1.44 billion in the quarter, versus a consensus estimate of $1.40 billion. In the same quarter of the previous year, the company had earned earnings per share of $0.75. The company’s quarterly revenue increased by 16.5% compared to the same quarter last year.
Several equity research analysts have recently weighed in on SLGN shares. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a Friday, April 29 research report. Citigroup raised its target price on Silgan from $45.00 to $50.00 in a Friday, April 8 research report. Royal Bank of Canada raised its target price on Silgan from $50.00 to $57.00 in a Thursday, January 27 research report. Raymond James raised his price target on Silgan from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, January 27. Finally, KeyCorp raised its price target on Silgan from $45.00 to $47.00 and gave the stock an “overweight” rating in a Thursday, January 27 research report. One financial analyst has assigned the stock a sell rating, four have issued a hold rating and six have assigned the company’s stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.70.
SLGN stock opened at $46.60 on Friday. The stock has a 50-day moving average price of $44.71 and a 200-day moving average price of $43.09. Silgan has a 12-month low of $37.10 and a 12-month high of $46.98. The company has a current ratio of 0.44, a quick ratio of 0.24 and a debt ratio of 2.41. The company has a market capitalization of $5.17 billion, a PE ratio of 13.99, a growth price-earnings ratio of 2.25 and a beta of 0.76.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 will receive a dividend of $0.16 per share. This represents an annualized dividend of $0.64 and a dividend yield of 1.37%. The ex-dividend date is Tuesday, May 31. Silgan’s dividend payout ratio (DPR) is currently 19.22%.
Separately, Chairman Anthony J. Allott sold 4,431 shares in a trade that took place on Thursday, February 10. The stock was sold at an average price of $43.58, for a total value of $193,102.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Chairman Anthony J. Allott sold 70,000 shares in a trade on Tuesday, February 8. The shares were sold at an average price of $44.05, for a total value of $3,083,500.00. The disclosure of this sale can be found here. Insiders sold 98,941 shares of the company valued at $4,332,185 in the past ninety days. Company insiders hold 24.38% of the company’s shares.
Major investors have recently changed their positions in the company. Aigen Investment Management LP bought a new equity stake in Silgan in the first quarter worth $466,000. Advisor Group Holdings Inc. increased its position in Silgan by 220.8% during the first quarter. Advisor Group Holdings Inc. now owns 21,614 shares of the industrial products company worth $1,003,000 after purchasing an additional 14,876 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Silgan during the first quarter worth $677,000. Envestnet Asset Management Inc. increased its position in Silgan shares by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 60,306 shares of the industrial products company valued at $2,788,000 after buying 8,788 additional shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Silgan shares by 16.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 343,322 shares of the industrial products company valued at $15,872,000 after buying 48,020 additional shares in the last quarter. Institutional investors hold 67.77% of the company’s shares.
Silgan Company Profile (Get a rating)
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods in North America, Europe and internationally. It operates through three segments: specialty distribution and closures, metal containers and custom containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato products, adult nutritional drinks, fruits and other miscellaneous foodstuffs, as well as general purpose metal containers primarily for chemicals.
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