Zacks: Brokerages Anticipate Silgan Holdings Inc. (SLGN) Will Post Quarterly Sales of $1.02 Billion
Wall Street analysts expect Silgan Holdings Inc. (NASDAQ:SLGN) to announce sales of $1.02 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Silgan’s earnings. The highest sales estimate is $1.04 billion and the lowest is $1.00 billion. Silgan posted sales of $995.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.4%. The firm is expected to report its next earnings report on Tuesday, January 29th.
On average, analysts expect that Silgan will report full-year sales of $4.39 billion for the current fiscal year, with estimates ranging from $4.38 billion to $4.42 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.44 billion, with estimates ranging from $4.33 billion to $4.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Silgan.
Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS.
In related news, Director John W. Alden sold 6,000 shares of Silgan stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $27.24, for a total transaction of $163,440.00. Following the completion of the transaction, the director now directly owns 65,655 shares of the company’s stock, valued at approximately $1,788,442.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William T. Donovan purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The shares were purchased at an average cost of $23.75 per share, with a total value of $118,750.00. Following the completion of the acquisition, the director now directly owns 8,235 shares in the company, valued at $195,581.25. The disclosure for this purchase can be found here. Insiders have sold a total of 62,300 shares of company stock valued at $1,542,609 over the last three months. 30.32% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SLGN. BTIM Corp. bought a new position in shares of Silgan in the second quarter worth about $21,911,000. Walthausen & Co. LLC bought a new position in shares of Silgan in the third quarter worth about $12,179,000. WINTON GROUP Ltd bought a new position in shares of Silgan in the third quarter worth about $10,035,000. FMR LLC raised its stake in shares of Silgan by 2.6% in the second quarter. FMR LLC now owns 13,207,468 shares of the industrial products company’s stock worth $354,357,000 after acquiring an additional 330,350 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Silgan by 4.2% in the third quarter. BlackRock Inc. now owns 6,814,304 shares of the industrial products company’s stock worth $189,436,000 after acquiring an additional 276,073 shares during the last quarter. 66.01% of the stock is owned by institutional investors.
NASDAQ SLGN traded down $0.25 during midday trading on Thursday, hitting $25.01. The company had a trading volume of 313,192 shares, compared to its average volume of 502,864. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.17 and a quick ratio of 0.70. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.20 and a beta of 0.68. Silgan has a fifty-two week low of $23.14 and a fifty-two week high of $31.05.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, November 30th. Silgan’s dividend payout ratio is currently 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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