Zacks: Brokerages Anticipate Silgan Holdings (SLGN) Will Announce Earnings of $0.36 Per Share

Wall Street analysts expect Silgan Holdings (NASDAQ:SLGN) to announce $0.36 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Silgan’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.35. Silgan reported earnings per share of $0.31 during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.1%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, April 25th.

According to Zacks, analysts expect that Silgan will report full-year earnings of $2.09 per share for the current fiscal year, with EPS estimates ranging from $2.06 to $2.10. For the next financial year, analysts forecast that the business will post earnings of $2.24 per share, with EPS estimates ranging from $2.10 to $2.35. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Silgan.

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Silgan (NASDAQ:SLGN) last released its earnings results on Tuesday, January 30th. The industrial products company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Silgan had a net margin of 6.59% and a return on equity of 30.15%. The business had revenue of $995.70 million during the quarter, compared to analyst estimates of $970.24 million. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 23.6% on a year-over-year basis.

Several analysts recently commented on SLGN shares. Zacks Investment Research raised shares of Silgan from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, December 26th. Bank of America lowered shares of Silgan from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 2nd. JPMorgan Chase lowered shares of Silgan from a “neutral” rating to an “underweight” rating and set a $30.00 target price for the company. in a research note on Wednesday, January 17th. Vertical Research raised shares of Silgan from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, KeyCorp reissued a “sell” rating and set a $25.00 target price on shares of Silgan in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.18.

SLGN stock traded down $0.03 on Thursday, hitting $27.91. 50,256 shares of the company’s stock traded hands, compared to its average volume of 590,286. Silgan has a 1-year low of $26.97 and a 1-year high of $32.50. The firm has a market cap of $3,062.09, a PE ratio of 16.92, a P/E/G ratio of 1.33 and a beta of 0.48. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.35 and a quick ratio of 0.60.

The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 15th. This is an increase from Silgan’s previous quarterly dividend of $0.09. Silgan’s dividend payout ratio is 24.24%.

In related news, CFO Robert B. Lewis sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $29.01, for a total value of $435,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director D Greg Horrigan sold 69,121 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $28.69, for a total transaction of $1,983,081.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,655 shares of company stock valued at $13,206,189. 33.10% of the stock is owned by insiders.

Several large investors have recently modified their holdings of SLGN. New York State Common Retirement Fund increased its stake in Silgan by 2.6% in the 3rd 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. increased its stake in Silgan by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 321,610 shares of the industrial products company’s stock valued at $9,464,000 after buying an additional 1,866 shares during the period. Legal & General Group Plc increased its stake in Silgan by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 91,012 shares of the industrial products company’s stock valued at $2,678,000 after buying an additional 1,754 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Silgan by 2.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 830,052 shares of the industrial products company’s stock valued at $24,429,000 after buying an additional 18,869 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Silgan by 5.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,716,471 shares of the industrial products company’s stock valued at $50,515,000 after buying an additional 81,201 shares during the period. Institutional investors and hedge funds own 68.10% of the company’s stock.

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About Silgan

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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