Brokerages forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will report sales of $1.12 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Silgan’s earnings. The lowest sales estimate is $1.09 billion and the highest is $1.14 billion. Silgan reported sales of $1.09 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, July 22nd.

According to Zacks, analysts expect that Silgan will report full year sales of $4.57 billion for the current year, with estimates ranging from $4.41 billion to $4.79 billion. For the next financial year, analysts expect that the business will report sales of $4.60 billion, with estimates ranging from $4.41 billion to $5.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Silgan.

Silgan (NASDAQ:SLGN) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Silgan had a net margin of 4.56% and a return on equity of 25.52%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted $0.46 EPS. Silgan’s revenue was up .3% compared to the same quarter last year.

A number of research analysts recently issued reports on SLGN shares. Zacks Investment Research lowered shares of Silgan from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Friday, April 17th. KeyCorp restated a “hold” rating on shares of Silgan in a research report on Wednesday, April 22nd. ValuEngine lowered shares of Silgan from a “hold” rating to a “sell” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. raised their price target on shares of Silgan from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Royal Bank of Canada upgraded shares of Silgan from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $32.00 to $34.00 in a research report on Friday, March 20th. Two analysts have rated the stock with a sell rating, three have assigned 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 an average target price of $36.83.

In other news, CFO Robert B. Lewis sold 2,532 shares of Silgan stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.30, for a total transaction of $84,315.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP B Frederik Prinzen sold 5,112 shares of Silgan stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.51, for a total transaction of $176,415.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,644 shares of company stock worth $590,731. 29.37% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Dupont Capital Management Corp lifted its holdings in Silgan by 96.0% during the 1st quarter. Dupont Capital Management Corp now owns 2,166 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,061 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Silgan by 4,669.5% during the 1st quarter. Meeder Asset Management Inc. now owns 2,814 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 2,755 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Silgan during the 1st quarter valued at about $97,000. Pendal Group Ltd bought a new position in Silgan during the 1st quarter valued at about $132,000. Finally, GQ Asset Management LLC lifted its holdings in Silgan by 45.6% during the 4th quarter. GQ Asset Management LLC now owns 5,097 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 1,597 shares during the last quarter. 65.60% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SLGN traded up $0.23 during midday trading on Wednesday, reaching $33.06. The stock had a trading volume of 419,985 shares, compared to its average volume of 651,417. Silgan has a 1-year low of $24.65 and a 1-year high of $35.94. The firm’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $31.34. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.21 and a quick ratio of 0.78. The stock has a market capitalization of $3.64 billion, a P/E ratio of 17.84, a PEG ratio of 2.73 and a beta of 0.67.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. Silgan’s dividend payout ratio (DPR) is currently 22.22%.

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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