FY2017 EPS Estimates for Silgan Holdings Inc. Boosted by KeyCorp (SLGN)

Silgan Holdings Inc. (NASDAQ:SLGN) – Research analysts at KeyCorp boosted their FY2017 earnings per share estimates for Silgan in a research note issued to investors on Thursday. KeyCorp analyst A. Josephson now expects that the industrial products company will post earnings per share of $1.63 for the year, up from their previous estimate of $1.61. KeyCorp has a “Underweight” rating and a $25.00 price objective on the stock.

Silgan (NASDAQ:SLGN) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Silgan had a net margin of 3.77% and a return on equity of 32.87%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm earned $0.61 EPS. Silgan’s revenue for the quarter was up 11.2% on a year-over-year basis.

A number of other equities research analysts also recently commented on the company. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Silgan in a report on Friday, October 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 target price on shares of Silgan in a report on Monday, September 18th. Royal Bank of Canada initiated coverage on Silgan in a report on Monday, October 9th. They set a “sector perform” rating and a $30.00 target price for the company. Zacks Investment Research downgraded Silgan from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, ValuEngine downgraded Silgan from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.75.

Shares of Silgan (NASDAQ SLGN) opened at $28.79 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 3.96. Silgan has a 52 week low of $25.16 and a 52 week high of $32.50. The firm has a market capitalization of $3,162.18, a PE ratio of 18.36, a PEG ratio of 1.75 and a beta of 0.52.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 30th. Silgan’s payout ratio is 27.38%.

In related news, Director William C. Jennings sold 25,642 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total transaction of $727,719.96. Following the completion of the sale, the director now directly owns 42,180 shares in the company, valued at $1,197,068.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SLGN. FMR LLC grew its holdings in Silgan by 98.3% in the 2nd quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock valued at $415,881,000 after buying an additional 6,485,884 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Silgan by 102.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock valued at $247,661,000 after buying an additional 3,939,145 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Silgan by 92.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock valued at $239,715,000 after purchasing an additional 3,624,183 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Silgan by 107.4% in the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock valued at $210,947,000 after purchasing an additional 3,437,477 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Silgan by 107.8% in the 2nd quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock valued at $63,762,000 after purchasing an additional 1,040,766 shares during the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.

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About Silgan

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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