According to Zacks, “For 2016, Silgan trimmed its earnings per share guidance to $2.70–$2.90. The mid-point depicts a 6% year over year dip, reflecting lower demand from certain U.S. pack customers, a cool and wet start to the European growing season and a somewhat more measured pace of equipment relocations associated with the footprint optimization program in the plastic container business. For the third quarter, Silgan guides earnings in the range of $1.20–$1.30, reflecting a 1% dip at the mid-point year over year. Further, incremental costs from its footprint optimization programs, high debt and foreign exchange volatility remain concerns.”
Several other equities analysts have also weighed in on SLGN. Goldman Sachs Group Inc. reissued a neutral rating and issued a $53.00 price objective on shares of Silgan Holdings in a research report on Wednesday, June 1st. BMO Capital Markets lowered shares of Silgan Holdings from an outperform rating to a market perform rating and lowered their price target for the stock from $58.00 to $47.00 in a research report on Wednesday, June 8th. Wells Fargo & Co. lowered shares of Silgan Holdings from an outperform rating to a market perform rating in a research report on Thursday, July 28th. Citigroup Inc. lowered their price target on shares of Silgan Holdings from $55.00 to $54.00 and set a neutral rating on the stock in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Silgan Holdings in a research report on Tuesday, September 13th. They set a neutral rating and a $51.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $52.33.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $895.15 million. Silgan Holdings had a net margin of 4.23% and a return on equity of 25.69%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.34%. Silgan Holdings’s payout ratio is 26.25%.
In other news, VP Anthony P. Andreacchi sold 1,221 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $48.48, for a total value of $59,194.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP B Frederik Prinzen sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $48.05, for a total transaction of $48,050.00. The disclosure for this sale can be found here. 32.94% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. LS Investment Advisors LLC increased its stake in Silgan Holdings by 78.4% in the second quarter. LS Investment Advisors LLC now owns 2,467 shares of the company’s stock worth $127,000 after buying an additional 1,084 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Silgan Holdings during the second quarter valued at approximately $129,000. Sei Investments Co. increased its stake in Silgan Holdings by 127.2% in the second quarter. Sei Investments Co. now owns 3,729 shares of the company’s stock valued at $192,000 after buying an additional 2,088 shares in the last quarter. US Bancorp DE increased its stake in Silgan Holdings by 7.2% in the second quarter. US Bancorp DE now owns 4,538 shares of the company’s stock valued at $233,000 after buying an additional 304 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Silgan Holdings during the first quarter valued at approximately $289,000. Institutional investors own 68.85% of the company’s stock.
Silgan Holdings Company Profile
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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