Silgan Holdings Inc. (SLGN) Expected to Announce Earnings of $0.43 Per Share

Brokerages predict that Silgan Holdings Inc. (NASDAQ:SLGN) will post $0.43 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Silgan’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.45. Silgan reported earnings per share of $0.42 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The business is scheduled to announce its next quarterly earnings results on Wednesday, April 24th.

On average, analysts expect that Silgan will report full-year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.20. For the next year, analysts expect that the business will report earnings of $2.32 per share, with EPS estimates ranging from $2.09 to $2.40. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Silgan.

Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.02 billion. Silgan had a net margin of 5.03% and a return on equity of 26.82%.

SLGN has been the subject of several research analyst reports. BidaskClub upgraded Silgan from a “sell” rating to a “hold” rating in a report on Saturday, December 8th. Zacks Investment Research downgraded Silgan from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. ValuEngine upgraded Silgan from a “strong sell” rating to a “sell” rating in a report on Monday, December 17th. Citigroup upgraded Silgan from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Finally, TheStreet cut shares of Silgan from a “b-” rating to a “c+” rating in a research report on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Silgan currently has an average rating of “Hold” and a consensus target price of $28.45.

In other Silgan news, VP Robert B. Lewis sold 18,700 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $25.18, for a total value of $470,866.00. Following the transaction, the vice president now directly owns 361,723 shares of the company’s stock, valued at approximately $9,108,185.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 30.32% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Silgan by 2,370.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 724,449 shares of the industrial products company’s stock worth $31,000 after buying an additional 695,121 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Silgan in the third quarter valued at $16,055,000. Walthausen & Co. LLC purchased a new position in Silgan in the third quarter valued at $12,179,000. WINTON GROUP Ltd purchased a new stake in Silgan during the 3rd quarter worth about $10,035,000. Finally, FMR LLC lifted its holdings in Silgan by 2.6% during the 2nd quarter. FMR LLC now owns 13,207,468 shares of the industrial products company’s stock worth $354,357,000 after buying an additional 330,350 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Shares of NASDAQ:SLGN traded up $0.44 during trading on Wednesday, reaching $28.54. 170,174 shares of the company traded hands, compared to its average volume of 517,258. The firm has a market cap of $3.08 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.67 and a beta of 0.83. Silgan has a 52-week low of $22.24 and a 52-week high of $29.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.20 and a current ratio of 0.40.

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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