Zacks Investment Research downgraded shares of Silgan Holdings Inc. (NASDAQ:SLGN) from a hold rating to a sell rating in a report published on Tuesday, October 17th.
According to Zacks, “Silgan's adjusted earnings per share (EPS) guidance for 2017 in the range of $1.60–$1.70 reflects year-over-year growth of around 20% at the midpoint. It forecasta free cash flow to be about $220 million for the full year. For the third quarter, the company guides adjusted EPS in the range of 64–71 cents. The stock underperformed the industry year-to-date. Increase in debt and unfavorable foreign currency translation will likely hurt the company’s results.”
SLGN has been the subject of a number of other reports. KeyCorp reissued a hold rating on shares of Silgan Holdings in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) downgraded Silgan Holdings from a neutral rating to a sell rating and set a $30.00 price target for the company. in a research report on Thursday, July 13th. Royal Bank Of Canada started coverage on Silgan Holdings in a research report on Monday, October 9th. They issued a sector perform rating and a $30.00 price target for the company. BidaskClub downgraded Silgan Holdings from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Finally, 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Silgan Holdings presently has a consensus rating of Hold and a consensus target price of $31.57.
Silgan Holdings (SLGN) traded up $0.25 during trading hours on Tuesday, reaching $29.41. 481,373 shares of the company were exchanged, compared to its average volume of 553,637. The company has a quick ratio of 0.25, a current ratio of 0.44 and a debt-to-equity ratio of 4.50. The company has a market cap of $3,216.80, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.78 and a beta of 0.52. Silgan Holdings has a 52 week low of $24.36 and a 52 week high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Silgan Holdings had a return on equity of 32.87% and a net margin of 3.77%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $0.61 EPS. Silgan Holdings’s revenue was up 11.2% on a year-over-year basis. research analysts predict that Silgan Holdings will post 1.64 EPS for the current fiscal year.
In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Anthony P. Andreacchi sold 2,192 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. Insiders have sold 19,698 shares of company stock worth $597,429 in the last 90 days. Insiders own 33.10% of the company’s stock.
A number of large investors have recently modified their holdings of SLGN. Utah Retirement Systems grew its holdings in shares of Silgan Holdings by 1.5% during the 1st quarter. Utah Retirement Systems now owns 6,752 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 100 shares during the period. US Bancorp DE lifted its stake in Silgan Holdings by 3.1% during the 1st quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 101 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Silgan Holdings by 9.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 207 shares in the last quarter. Advantus Capital Management Inc raised its position in Silgan Holdings by 4.5% in the 1st quarter. Advantus Capital Management Inc now owns 4,793 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 207 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Silgan Holdings by 1.5% in the 1st quarter. California Public Employees Retirement System now owns 20,900 shares of the industrial products company’s stock valued at $1,241,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 65.87% of the company’s stock.
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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