Silgan Holdings Inc. (NASDAQ:SLGN) – Equities researchers at KeyCorp lowered their Q3 2017 earnings estimates for Silgan Holdings in a research note issued to investors on Wednesday. KeyCorp analyst A. Josephson now anticipates that the industrial products company will earn $0.68 per share for the quarter, down from their previous forecast of $0.72. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Silgan Holdings’ FY2017 earnings at $1.64 EPS.
A number of other research firms also recently commented on SLGN. Zacks Investment Research downgraded Silgan Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) downgraded Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a research report on Thursday, July 13th. BMO Capital Markets reiterated a “buy” rating and set a $34.00 target price on shares of Silgan Holdings in a research report on Sunday, July 9th. Robert W. Baird downgraded Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Wednesday, July 19th. Finally, BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Silgan Holdings currently has an average rating of “Hold” and an average price target of $30.81.
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Shares of Silgan Holdings (NASDAQ SLGN) opened at 30.30 on Monday. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 24.07 and a beta of 0.55. The firm’s 50-day moving average is $31.65 and its 200 day moving average is $50.86. Silgan Holdings has a 12 month low of $23.58 and a 12 month 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, meeting the consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.60 earnings per share. Silgan Holdings’s revenue for the quarter was up 16.8% on a year-over-year basis.
Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of Silgan Holdings by 1.0% in the first quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock worth $162,000 after buying an additional 27 shares in the last quarter. Utah Retirement Systems raised its stake in Silgan Holdings by 1.5% in the first quarter. Utah Retirement Systems now owns 6,752 shares of the industrial products company’s stock worth $401,000 after buying an additional 100 shares during the last quarter. US Bancorp DE raised its stake in Silgan Holdings by 3.1% in the first quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after buying an additional 101 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Silgan Holdings by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the industrial products company’s stock worth $564,000 after buying an additional 200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Silgan Holdings by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,350 shares of the industrial products company’s stock worth $852,000 after buying an additional 200 shares during the last quarter. Institutional investors own 35.11% of the company’s stock.
In related news, VP B Frederik Prinzen sold 3,204 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $62.28, for a total value of $199,545.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Adam J. Greenlee sold 5,643 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was 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 owned by company insiders.
Silgan Holdings Company Profile
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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