Equities research analysts expect that Silgan Holdings Inc. (NASDAQ:SLGN) will announce $0.43 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Silgan’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.42. Silgan posted earnings of $0.42 per share during the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is expected to report its next quarterly earnings results before the market opens on Wednesday, April 24th.
According to Zacks, analysts expect that Silgan will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.20. For the next year, analysts anticipate that the firm will post earnings of $2.32 per share, with EPS estimates ranging from $2.09 to $2.40. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Silgan.
Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Silgan had a net margin of 5.03% and a return on equity of 26.82%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.02 billion.
SLGN has been the subject of several analyst reports. TheStreet upgraded Silgan from a “c+” rating to a “b” rating in a report on Tuesday, February 5th. Zacks Investment Research raised Silgan from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Monday, December 31st. Barclays upgraded shares of Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Citigroup upgraded shares of Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Finally, BidaskClub raised shares of Silgan from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Silgan currently has a consensus rating of “Hold” and a consensus target price of $28.20.
Shares of SLGN traded up $0.13 during trading hours on Friday, hitting $30.13. The company had a trading volume of 621,171 shares, compared to its average volume of 441,274. Silgan has a 52-week low of $22.24 and a 52-week high of $30.25. The company has a current ratio of 1.20, a quick ratio of 0.61 and a debt-to-equity ratio of 2.42. The company has a market cap of $3.31 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.80 and a beta of 0.83.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.11 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.44 annualized dividend and a yield of 1.46%. This is a boost from Silgan’s previous quarterly dividend of $0.10. Silgan’s dividend payout ratio (DPR) is 21.15%.
In other Silgan news, insider Anthony J. Allott sold 63,490 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $28.49, for a total transaction of $1,808,830.10. Following the transaction, the insider now directly owns 972,075 shares of the company’s stock, valued at approximately $27,694,416.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Allott sold 25,320 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $28.33, for a total transaction of $717,315.60. Following the completion of the transaction, the chief executive officer now owns 972,075 shares of the company’s stock, valued at $27,538,884.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,172 shares of company stock valued at $2,709,435. Company insiders own 30.32% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Rafferty Asset Management LLC purchased a new stake in Silgan in the fourth quarter worth about $1,836,000. Nordea Investment Management AB lifted its stake in shares of Silgan by 22.7% in the 3rd quarter. Nordea Investment Management AB now owns 749,725 shares of the industrial products company’s stock valued at $20,842,000 after purchasing an additional 138,627 shares during the period. Commonwealth Bank of Australia purchased a new position in shares of Silgan in the 3rd quarter valued at approximately $330,000. GAM Holding AG bought a new stake in shares of Silgan during the fourth quarter valued at approximately $204,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Silgan by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,176,800 shares of the industrial products company’s stock valued at $51,415,000 after purchasing an additional 43,774 shares in the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.
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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