Silgan Holdings Inc. (NASDAQ:SLGN) Expected to Post Earnings of $0.76 Per Share
Wall Street brokerages expect that Silgan Holdings Inc. (NASDAQ:SLGN) will report earnings per share of $0.76 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Silgan’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.75. Silgan also reported earnings of $0.76 per share in the same quarter last year. The firm is scheduled to announce its next earnings report on Wednesday, October 23rd.
According to Zacks, analysts expect that Silgan will report full-year earnings of $2.20 per share for the current fiscal year, with EPS estimates ranging from $2.18 to $2.20. For the next year, analysts anticipate that the firm will post earnings of $2.35 per share, with EPS estimates ranging from $2.23 to $2.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Silgan.
Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Silgan had a return on equity of 26.45% and a net margin of 4.46%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue was up 3.2% on a year-over-year basis.
In other Silgan news, Director John W. Alden sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $29.71, for a total value of $59,420.00. Following the sale, the director now directly owns 67,331 shares in the company, valued at $2,000,404.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas James Snyder sold 10,444 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.02, for a total value of $323,972.88. The disclosure for this sale can be found here. 30.32% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in SLGN. Geode Capital Management LLC lifted its position in Silgan by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 821,897 shares of the industrial products company’s stock valued at $19,412,000 after purchasing an additional 48,950 shares during the last quarter. Strs Ohio acquired a new position in Silgan in the 1st quarter worth approximately $399,000. BNP Paribas Arbitrage SA boosted its stake in Silgan by 283.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,909 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 3,629 shares during the period. Candriam Luxembourg S.C.A. purchased a new position in Silgan during the 1st quarter worth approximately $444,000. Finally, Texas Permanent School Fund grew its position in Silgan by 3.6% during the 1st quarter. Texas Permanent School Fund now owns 52,486 shares of the industrial products company’s stock worth $1,555,000 after purchasing an additional 1,815 shares in the last quarter. 65.78% of the stock is currently owned by institutional investors and hedge funds.
SLGN traded up $0.24 during trading hours on Friday, hitting $30.17. 217,300 shares of the stock were exchanged, compared to its average volume of 480,312. The stock has a 50-day simple moving average of $30.05 and a 200-day simple moving average of $29.83. Silgan has a 12 month low of $22.24 and a 12 month high of $31.69. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.79. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.98 and a quick ratio of 0.49.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.46%. Silgan’s dividend payout ratio is currently 21.15%.
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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