Silgan (NYSE:SLGN) Issues FY24 Earnings Guidance

Silgan (NYSE:SLGN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.55-$3.65 for the period, compared to the consensus estimate of $3.64. Silgan also updated its FY 2024 guidance to 3.550-3.650 EPS.

Wall Street Analyst Weigh In

SLGN has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird increased their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Performance

Shares of NYSE SLGN opened at $52.64 on Friday. Silgan has a 1 year low of $40.01 and a 1 year high of $52.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.52. The stock has a fifty day moving average price of $51.26 and a two-hundred day moving average price of $48.11. The firm has a market cap of $5.62 billion, a P/E ratio of 19.05, a PEG ratio of 1.26 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Silgan’s revenue was down 3.2% on a year-over-year basis. Research analysts forecast that Silgan will post 3.6 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 1.44%. Silgan’s dividend payout ratio (DPR) is 27.54%.

Insider Activity

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.39% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.