Wall Street analysts expect Silgan Holdings Inc. (NASDAQ:SLGN) to post sales of $1.32 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Silgan’s earnings. The highest sales estimate is $1.35 billion and the lowest is $1.29 billion. Silgan reported sales of $1.31 billion in the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The company is scheduled to report its next earnings results on Wednesday, October 23rd.
On average, 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 financial year, analysts anticipate that the firm will report sales of $4.55 billion, with estimates ranging from $4.41 billion to $4.64 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Silgan.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. Silgan had a net margin of 4.46% and a return on equity of 26.45%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Silgan’s revenue was up 3.2% compared to the same quarter last year.
Shares of Silgan stock traded up $0.14 during mid-day trading on Thursday, hitting $30.20. The stock had a trading volume of 582,513 shares, compared to its average volume of 500,221. The firm’s 50-day simple moving average is $30.35. Silgan has a 12-month low of $22.24 and a 12-month high of $31.69. The company has a current ratio of 0.47, a quick ratio of 0.24 and a debt-to-equity ratio of 2.35. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.84 and a beta of 0.80.
In other news, VP Robert B. Lewis sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $30.01, for a total value of $2,250,750.00. Following the transaction, the vice president now directly owns 252,117 shares in the company, valued at approximately $7,566,031.17. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam J. Greenlee sold 110,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.90, for a total transaction of $3,289,000.00. Following the completion of the transaction, the insider now owns 131,367 shares in the company, valued at $3,927,873.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,692 shares of company stock worth $5,651,359. Company insiders own 30.32% of the company’s stock.
Several hedge funds have recently modified their holdings of SLGN. Norges Bank acquired a new stake in Silgan during the 4th quarter worth approximately $24,767,000. LSV Asset Management lifted its holdings in Silgan by 74.4% during the 1st quarter. LSV Asset Management now owns 1,322,383 shares of the industrial products company’s stock worth $39,182,000 after buying an additional 564,147 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Silgan during the 1st quarter worth approximately $8,471,000. BTIM Corp. lifted its holdings in Silgan by 15.2% during the 2nd quarter. BTIM Corp. now owns 899,746 shares of the industrial products company’s stock worth $27,533,000 after buying an additional 118,934 shares in the last quarter. Finally, AJO LP acquired a new stake in Silgan during the 1st quarter worth approximately $2,873,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.
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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