Silgan Holdings Inc. (SLGN) Expected to Post Earnings of $0.43 Per Share

Brokerages predict that Silgan Holdings Inc. (NASDAQ:SLGN) will post earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Silgan’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.45. Silgan posted earnings of $0.42 per share during the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The firm is scheduled to announce its next quarterly earnings report 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 fiscal year, analysts anticipate that the business will report earnings of $2.32 per share, with EPS estimates ranging from $2.09 to $2.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Silgan.

Silgan (NASDAQ:SLGN) last released its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.02 billion. Silgan had a return on equity of 26.82% and a net margin of 5.03%.

A number of research firms have weighed in on SLGN. BidaskClub lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded Silgan from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Monday, December 31st. TheStreet upgraded Silgan from a “c+” rating to a “b” rating in a research note on Tuesday, February 5th. Finally, ValuEngine upgraded Silgan from a “strong sell” rating to a “sell” rating in a research note on Monday, December 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.45.

In related news, Director William C. Jennings sold 6,362 shares of Silgan stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $28.81, for a total value of $183,289.22. Following the sale, the director now directly owns 39,053 shares in the company, valued at approximately $1,125,116.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Allott sold 25,320 shares of Silgan stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $28.33, for a total value of $717,315.60. Following the completion of the sale, the chief executive officer now owns 972,075 shares in the company, valued at $27,538,884.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,172 shares of company stock valued at $2,709,435. 30.32% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SLGN. Oregon Public Employees Retirement Fund boosted its holdings in Silgan by 2,370.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 724,449 shares of the industrial products company’s stock worth $31,000 after buying an additional 695,121 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Silgan in the 4th quarter worth about $55,000. Dupont Capital Management Corp acquired a new stake in Silgan in the 4th quarter worth about $138,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Silgan by 44.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,097 shares of the industrial products company’s stock worth $144,000 after buying an additional 1,876 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Silgan in the 4th quarter worth about $148,000. Institutional investors own 66.65% of the company’s stock.

NASDAQ SLGN opened at $29.81 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.78 and a beta of 0.83. Silgan has a fifty-two week low of $22.24 and a fifty-two week high of $29.95. The company has a quick ratio of 0.61, a current ratio of 1.20 and a debt-to-equity ratio of 2.42.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, March 15th. This is a positive change from Silgan’s previous quarterly dividend of $0.10. Silgan’s payout ratio is currently 21.15%.

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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