Silgan Holdings Inc. (NASDAQ:SLGN) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.66. Silgan Holdings also updated its Q3 guidance to $0.64-0.71 EPS.
Shares of Silgan Holdings Inc. (SLGN) traded up 0.95% during trading on Monday, hitting $30.72. 28,201 shares of the stock were exchanged. The firm has a 50 day moving average price of $31.63 and a 200 day moving average price of $50.69. The firm has a market capitalization of $3.39 billion, a P/E ratio of 24.40 and a beta of 0.54. Silgan Holdings Inc. has a 52 week low of $23.58 and a 52 week high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. Analysts forecast that Silgan Holdings Inc. will post $1.66 EPS for the current fiscal year.
Several research analysts have issued reports on the company. BidaskClub cut Silgan Holdings from a hold rating to a sell rating in a research report on Monday, July 31st. Bank of America Corporation cut Silgan Holdings from a buy rating to a neutral rating and set a $35.00 target price on the stock. in a research report on Thursday, July 27th. Robert W. Baird cut Silgan Holdings from an outperform rating to a neutral rating and set a $35.00 target price on the stock. in a research report on Wednesday, July 19th. KeyCorp reaffirmed a hold rating on shares of Silgan Holdings in a research report on Wednesday, April 26th. Finally, Goldman Sachs Group, Inc. (The) cut Silgan Holdings from a neutral rating to a sell rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $31.36.
In related news, VP B Frederik Prinzen sold 3,204 shares of Silgan Holdings stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total transaction of $199,545.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Adam J. Greenlee sold 5,643 shares of Silgan Holdings stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $61.56, for a total value of $347,383.08. The disclosure for this sale can be found here. 33.10% of the stock is currently owned by company insiders.
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About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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