Analysts forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will report earnings per share (EPS) of $0.35 for the current quarter, Zacks reports. Five analysts have issued estimates for Silgan Holdings’ earnings, with estimates ranging from $0.35 to $0.37. Silgan Holdings reported earnings per share of $0.30 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.7%. The company is scheduled to issue its next earnings results before the market opens on Wednesday, July 26th.
On average, analysts expect that Silgan Holdings will report full year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.63 to $1.70. For the next financial year, analysts forecast that the company will report earnings of $1.89 per share, with EPS estimates ranging from $1.73 to $2.00. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Silgan Holdings.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $805.40 million for the quarter, compared to analysts’ expectations of $795.58 million. Silgan Holdings had a return on equity of 28.84% and a net margin of 4.14%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS.
Several research firms have issued reports on SLGN. Zacks Investment Research lowered Silgan Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. KeyCorp reissued a “hold” rating on shares of Silgan Holdings in a report on Wednesday, April 26th. Robert W. Baird lowered Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Wednesday, July 19th. BMO Capital Markets reissued a “buy” rating and set a $32.50 price target on shares of Silgan Holdings in a report on Monday, March 27th. Finally, ValuEngine raised Silgan Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.21.
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In other news, VP Adam J. Greenlee sold 5,643 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $61.56, for a total value of $347,383.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 3,204 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $62.28, for a total value of $199,545.12. The disclosure for this sale can be found here. Corporate insiders own 33.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SLGN. Bank of Montreal Can raised its position in Silgan Holdings by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after buying an additional 1,847 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Silgan Holdings during the second quarter worth $127,000. Envestnet Asset Management Inc. raised its position in Silgan Holdings by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after buying an additional 207 shares during the period. Pacer Advisors Inc. raised its position in Silgan Holdings by 1.0% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock worth $162,000 after buying an additional 27 shares during the period. Finally, LS Investment Advisors LLC raised its position in Silgan Holdings by 136.4% in the second quarter. LS Investment Advisors LLC now owns 5,788 shares of the industrial products company’s stock worth $184,000 after buying an additional 3,340 shares during the period. 34.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Silgan Holdings (NASDAQ SLGN) traded down 0.16% during mid-day trading on Friday, reaching $31.76. The company had a trading volume of 202,285 shares. The firm has a 50 day moving average of $31.73 and a 200-day moving average of $51.65. The stock has a market capitalization of $3.50 billion, a P/E ratio of 24.93 and a beta of 0.55. Silgan Holdings has a one year low of $23.58 and a one year high of $32.50.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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