Silgan (NYSE:SLGN) Announces Quarterly Earnings Results

Silgan (NYSE:SLGN) released its quarterly earnings data on Wednesday. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02), Briefing.com reports. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis.

Silgan Price Performance

NYSE SLGN traded up $0.90 on Friday, hitting $52.64. 892,882 shares of the company’s stock were exchanged, compared to its average volume of 428,856. Silgan has a 52 week low of $40.01 and a 52 week high of $52.84. The stock has a 50-day moving average of $51.26 and a 200-day moving average of $48.11. The company has a current ratio of 0.52, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.26 and a beta of 0.67.

Silgan Announces Dividend

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

Insider Transactions at Silgan

In related news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their price target on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird raised their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.43.

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.