Wall Street analysts predict that Silgan Holdings Inc. (NASDAQ:SLGN) will report sales of $1.32 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Silgan’s earnings, with the lowest sales estimate coming in at $1.29 billion and the highest estimate coming in at $1.35 billion. Silgan posted sales of $1.31 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The business is expected to announce its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Silgan will report full year sales of $4.50 billion for the current fiscal year, with estimates ranging from $4.45 billion to $4.54 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.55 billion, with estimates ranging from $4.41 billion to $4.64 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Silgan.

Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The business 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 firm earned $0.52 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year.

A number of equities analysts have issued reports on the company. BidaskClub cut Silgan from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Citigroup upped their target price on Silgan from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. ValuEngine cut Silgan from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $33.00 in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Silgan presently has a consensus rating of “Hold” and an average price target of $30.63.

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

Several hedge funds have recently modified their holdings of SLGN. Vanguard Group Inc. grew its stake in Silgan by 0.6% during the second quarter. Vanguard Group Inc. now owns 8,274,320 shares of the industrial products company’s stock worth $253,194,000 after purchasing an additional 51,842 shares during the period. JPMorgan Chase & Co. grew its stake in Silgan by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 7,717,243 shares of the industrial products company’s stock worth $230,206,000 after purchasing an additional 67,770 shares during the period. BlackRock Inc. grew its stake in Silgan by 3.3% during the second quarter. BlackRock Inc. now owns 7,191,552 shares of the industrial products company’s stock worth $220,060,000 after purchasing an additional 231,494 shares during the period. Cardinal Capital Management LLC CT grew its stake in Silgan by 2.7% during the second quarter. Cardinal Capital Management LLC CT now owns 3,188,630 shares of the industrial products company’s stock worth $97,572,000 after purchasing an additional 84,359 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Silgan by 6.6% during the second quarter. Wells Fargo & Company MN now owns 2,133,062 shares of the industrial products company’s stock worth $65,272,000 after purchasing an additional 132,752 shares during the period. 65.78% of the stock is owned by institutional investors.

SLGN traded down $0.18 on Friday, reaching $30.01. The stock had a trading volume of 221,520 shares, compared to its average volume of 271,756. Silgan has a fifty-two week low of $22.24 and a fifty-two week high of $31.69. The firm has a 50-day moving average of $30.04 and a 200-day moving average of $29.85. The company has a current ratio of 0.98, a quick ratio of 0.49 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79.

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