Brokerages Expect Silgan Holdings Inc. (NASDAQ:SLGN) Will Announce Quarterly Sales of $1.32 Billion

Equities analysts forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will post $1.32 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Silgan’s earnings, with estimates ranging from $1.29 billion to $1.35 billion. Silgan posted sales of $1.31 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to report its next quarterly earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Silgan will report full year sales of $4.50 billion for the current year, with estimates ranging from $4.45 billion to $4.54 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.55 billion, with estimates ranging from $4.41 billion to $4.64 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Silgan.

Silgan (NASDAQ:SLGN) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year.

Several research firms recently weighed in on SLGN. BidaskClub downgraded Silgan from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $33.00 in a research report on Wednesday, July 17th. Citigroup increased their target price on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, ValuEngine downgraded Silgan from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.63.

NASDAQ SLGN traded down $0.18 during trading hours on Friday, hitting $30.01. 189,681 shares of the company’s stock were exchanged, compared to its average volume of 477,418. The business’s 50 day moving average is $30.04 and its 200-day moving average is $29.85. Silgan has a 12-month low of $22.24 and a 12-month high of $31.69. The firm has a market capitalization of $3.33 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.79. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.49 and a current ratio of 0.98.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.11 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s dividend payout ratio (DPR) is 21.15%.

In other news, insider Thomas James Snyder sold 10,444 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.02, for a total value of $323,972.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John W. Alden sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 67,331 shares in the company, valued at $2,000,404.01. The disclosure for this sale can be found here. Company insiders own 30.32% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SLGN. LSV Asset Management increased its stake in Silgan by 54.7% in the second quarter. LSV Asset Management now owns 2,045,636 shares of the industrial products company’s stock valued at $62,596,000 after acquiring an additional 723,253 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Silgan by 184.8% during the second quarter. Renaissance Technologies LLC now owns 1,110,280 shares of the industrial products company’s stock valued at $33,975,000 after acquiring an additional 720,400 shares during the last quarter. Atlanta Capital Management Co. L L C acquired a new stake in shares of Silgan during the second quarter valued at $21,557,000. Nuveen Asset Management LLC acquired a new stake in shares of Silgan during the second quarter valued at $18,741,000. Finally, AQR Capital Management LLC boosted its stake in shares of Silgan by 101.8% during the second quarter. AQR Capital Management LLC now owns 945,373 shares of the industrial products company’s stock valued at $28,304,000 after acquiring an additional 476,949 shares during the last quarter. Institutional investors own 65.78% 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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Earnings History and Estimates for Silgan (NASDAQ:SLGN)

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