Brokerages Expect Silgan Holdings Inc. (NASDAQ:SLGN) to Announce $0.63 Earnings Per Share
Equities analysts expect that Silgan Holdings Inc. (NASDAQ:SLGN) will announce earnings per share of $0.63 for the current quarter, Zacks reports. Four analysts have issued estimates for Silgan’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.56. Silgan reported earnings of $0.55 per share in the same quarter last year, which would indicate a positive year over year growth rate of 14.5%. The firm is expected to announce its next earnings report before the market opens on Wednesday, July 22nd.
On average, analysts expect that Silgan will report full year earnings of $2.41 per share for the current year, with EPS estimates ranging from $2.30 to $2.46. For the next year, analysts forecast that the business will report earnings of $2.56 per share, with EPS estimates ranging from $2.39 to $2.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Silgan.
Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. Silgan had a return on equity of 25.52% and a net margin of 4.56%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $0.46 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year.
In other news, VP B Frederik Prinzen sold 5,112 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $34.51, for a total transaction of $176,415.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $33.00, for a total value of $330,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,644 shares of company stock valued at $590,731. Company insiders own 29.37% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Silgan by 0.9% during the first quarter. State Street Corp now owns 2,018,605 shares of the industrial products company’s stock worth $58,580,000 after purchasing an additional 17,760 shares in the last quarter. New Mexico Educational Retirement Board increased its position in Silgan by 38.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 18,500 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 5,100 shares during the period. State of Tennessee Treasury Department increased its position in Silgan by 10.3% in the 1st quarter. State of Tennessee Treasury Department now owns 79,177 shares of the industrial products company’s stock valued at $2,298,000 after acquiring an additional 7,404 shares during the period. The Manufacturers Life Insurance Company increased its position in Silgan by 2.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 111,777 shares of the industrial products company’s stock valued at $3,244,000 after acquiring an additional 2,345 shares during the period. Finally, RBF Capital LLC purchased a new stake in Silgan in the 1st quarter valued at approximately $1,016,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.
SLGN stock traded up $0.23 during mid-day trading on Monday, reaching $33.06. 419,985 shares of the company’s stock were exchanged, compared to its average volume of 651,417. The stock’s 50 day moving average is $32.49 and its 200 day moving average is $31.34. Silgan has a 12-month low of $24.65 and a 12-month high of $35.94. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.73 and a beta of 0.67. 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 company also recently declared 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 is currently 22.22%.
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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