Silgan Holdings (SLGN) Expected to Post Quarterly Sales of $984.99 Million
Analysts forecast that Silgan Holdings (NASDAQ:SLGN) will report $984.99 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Silgan’s earnings. The highest sales estimate is $1.01 billion and the lowest is $952.00 million. Silgan posted sales of $805.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.3%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that Silgan will report full-year sales of $4.39 billion for the current fiscal year, with estimates ranging from $4.25 billion to $4.51 billion. For the next financial year, analysts expect that the company will post sales of $4.43 billion per share, with estimates ranging from $4.25 billion to $4.59 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Silgan.
Silgan (NASDAQ:SLGN) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. The company had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $970.24 million. Silgan had a return on equity of 30.15% and a net margin of 6.59%. Silgan’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS.
In other news, CFO Robert B. Lewis sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $29.01, for a total transaction of $435,150.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director D Greg Horrigan sold 355,934 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $28.01, for a total value of $9,969,711.34. The disclosure for this sale can be found here. Insiders sold a total of 468,655 shares of company stock worth $13,206,189 over the last ninety days. Insiders own 33.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SLGN. New York State Common Retirement Fund increased its stake in shares of Silgan by 2.6% during the third quarter. New York State Common Retirement Fund now owns 178,813 shares of the industrial products company’s stock valued at $5,262,000 after buying an additional 4,542 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Silgan by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 321,610 shares of the industrial products company’s stock valued at $9,464,000 after purchasing an additional 1,866 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Silgan by 2.0% during the third quarter. Legal & General Group Plc now owns 91,012 shares of the industrial products company’s stock valued at $2,678,000 after purchasing an additional 1,754 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Silgan by 2.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 830,052 shares of the industrial products company’s stock valued at $24,429,000 after purchasing an additional 18,869 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Silgan by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,716,471 shares of the industrial products company’s stock valued at $50,515,000 after purchasing an additional 81,201 shares in the last quarter. 68.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ SLGN traded down $0.03 during trading hours on Friday, reaching $27.91. 50,256 shares of the stock traded hands, compared to its average volume of 590,286. The stock has a market cap of $3,062.09, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.33 and a beta of 0.48. The company has a current ratio of 1.35, a quick ratio of 0.60 and a debt-to-equity ratio of 3.18. Silgan has a 52-week low of $26.97 and a 52-week high of $32.50.
The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a $0.10 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 15th. Silgan’s payout ratio is 24.24%.
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 soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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