Silgan Holdings Inc. (NASDAQ:SLGN – Get Rating) – Equities research analysts at KeyCorp lowered their Q2 2022 earnings per share (EPS) estimates for Silgan in a research note issued to investors on Wednesday, April 27th. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $0.97 per share for the quarter, down from their prior forecast of $0.99. KeyCorp has a “Overweight” rating and a $47.00 price target on the stock. KeyCorp also issued estimates for Silgan’s Q3 2022 earnings at $1.24 EPS, Q4 2022 earnings at $0.96 EPS, FY2022 earnings at $3.95 EPS and FY2023 earnings at $4.00 EPS.
Silgan (NASDAQ:SLGN – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.40 billion. Silgan had a net margin of 6.33% and a return on equity of 26.67%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS.
SLGN stock opened at $44.90 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.52 and a quick ratio of 0.99. Silgan has a 1 year low of $37.10 and a 1 year high of $46.98. The company has a 50 day simple moving average of $44.36 and a 200 day simple moving average of $42.91. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.40 and a beta of 0.78.
Institutional investors have recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. bought a new position in shares of Silgan in the third quarter worth $11,815,000. Russell Investments Group Ltd. increased its stake in Silgan by 9.8% in the third quarter. Russell Investments Group Ltd. now owns 730,943 shares of the industrial products company’s stock valued at $28,116,000 after acquiring an additional 65,073 shares during the last quarter. Marshall Wace LLP bought a new position in Silgan in the third quarter valued at $1,996,000. Frontier Capital Management Co. LLC bought a new position in Silgan in the fourth quarter valued at $18,660,000. Finally, Yousif Capital Management LLC bought a new position in Silgan in the fourth quarter valued at $1,884,000. 71.89% of the stock is currently owned by hedge funds and other institutional investors.
In other Silgan news, Chairman Anthony J. Allott sold 6,410 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $43.06, for a total transaction of $276,014.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Anthony J. Allott sold 4,431 shares of the business’s stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $43.58, for a total transaction of $193,102.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,941 shares of company stock worth $4,332,185. 24.38% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 17th were paid a $0.16 dividend. This is an increase from Silgan’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, March 16th. This represents a $0.64 annualized dividend and a yield of 1.43%. Silgan’s dividend payout ratio is presently 19.81%.
About Silgan (Get Rating)
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom 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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