Zacks: Brokerages Anticipate Silgan Holdings Inc. (NASDAQ:SLGN) Will Post Earnings of $0.76 Per Share

Analysts expect that Silgan Holdings Inc. (NASDAQ:SLGN) will announce $0.76 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Silgan’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.75. Silgan also reported earnings of $0.76 per share in the same quarter last year. The firm is expected to announce its next earnings report before the market opens on Wednesday, October 23rd.

According to Zacks, analysts expect that Silgan will report full-year earnings of $2.19 per share for the current year, with EPS estimates ranging from $2.17 to $2.20. For the next financial year, analysts anticipate that the business will report earnings of $2.34 per share, with EPS estimates ranging from $2.23 to $2.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Silgan.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Silgan had a net margin of 4.46% and a return on equity of 26.45%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.52 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis.

SLGN has been the topic of a number of recent research reports. Citigroup increased their target price on Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Zacks Investment Research lowered Silgan from a “hold” rating to a “sell” rating and set a $32.00 price target for the company. in a research report on Tuesday, October 15th. BidaskClub upgraded Silgan from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $31.00 to $33.00 in a research note on Wednesday, July 17th. Finally, ValuEngine downgraded Silgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.38.

In other Silgan news, insider Thomas James Snyder sold 10,444 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.02, for a total transaction of $323,972.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Alden sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $29.71, for a total value of $59,420.00. Following the sale, the director now owns 67,331 shares in the company, valued at approximately $2,000,404.01. The disclosure for this sale can be found here. 30.32% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Krane Funds Advisors LLC acquired a new position in Silgan in the 2nd quarter worth about $26,000. C M Bidwell & Associates Ltd. acquired a new stake in Silgan in the 2nd quarter valued at $40,000. Point72 Asset Management L.P. acquired a new stake in Silgan in the 2nd quarter valued at $40,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Silgan in the 2nd quarter valued at $51,000. Finally, Huntington National Bank acquired a new stake in Silgan in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Shares of Silgan stock traded up $0.15 during midday trading on Tuesday, reaching $31.17. 3,729 shares of the company’s stock traded hands, compared to its average volume of 362,204. The company has a market cap of $3.44 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The stock has a 50 day moving average of $29.81 and a 200-day moving average of $30.02. Silgan has a 12 month low of $22.24 and a 12 month high of $31.69. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.49 and a current ratio of 0.98.

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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