Brokerages Anticipate Silgan Holdings Inc. (NASDAQ:SLGN) Will Announce Earnings of $0.73 Per Share

Wall Street brokerages forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will announce earnings per share (EPS) of $0.73 for the current quarter, Zacks reports. Five analysts have made estimates for Silgan’s earnings. The lowest EPS estimate is $0.71 and the highest is $0.74. Silgan reported earnings of $0.60 per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.7%. The firm is expected to announce its next earnings results on Tuesday, January 25th.

According to Zacks, analysts expect that Silgan will report full-year earnings of $3.35 per share for the current year, with EPS estimates ranging from $3.33 to $3.36. For the next fiscal year, analysts anticipate that the company will post earnings of $3.74 per share, with EPS estimates ranging from $3.58 to $3.80. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Silgan.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, October 27th. The industrial products company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.02). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.59 billion. Silgan had a return on equity of 26.60% and a net margin of 6.12%. Silgan’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 earnings per share.

SLGN has been the topic of several research analyst reports. Loop Capital initiated coverage on shares of Silgan in a research note on Tuesday, October 5th. They set a “buy” rating and a $62.00 price objective on the stock. Truist Securities initiated coverage on shares of Silgan in a research note on Tuesday, September 14th. They set a “hold” rating and a $46.00 price target on the stock. BMO Capital Markets increased their price target on shares of Silgan from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, September 22nd. Royal Bank of Canada increased their price target on shares of Silgan from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Finally, Citigroup increased their price target on shares of Silgan from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Silgan currently has a consensus rating of “Buy” and a consensus target price of $46.87.

Shares of Silgan stock opened at $42.27 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.70 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 2.51 and a beta of 0.80. Silgan has a 1-year low of $33.62 and a 1-year high of $44.55. The firm’s 50-day moving average price is $40.49 and its two-hundred day moving average price is $41.20.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.32%. Silgan’s dividend payout ratio (DPR) is presently 18.60%.

In related news, Chairman Anthony J. Allott sold 60,000 shares of the firm’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $42.47, for a total transaction of $2,548,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $42.13, for a total transaction of $842,600.00. The disclosure for this sale can be found here. Company insiders own 24.38% of the company’s stock.

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Silgan during the third quarter worth $25,000. Geneos Wealth Management Inc. bought a new position in Silgan in the first quarter valued at $28,000. Dark Forest Capital Management LP bought a new position in Silgan in the second quarter valued at $44,000. FORA Capital LLC bought a new position in Silgan in the second quarter valued at $80,000. Finally, Meeder Asset Management Inc. grew its position in Silgan by 14.3% in the second quarter. Meeder Asset Management Inc. now owns 3,269 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 409 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

About Silgan

Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment includes steel and aluminium containers for human and pet food, and general line products.

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