Silgan Holdings Inc. Announces Quarterly Dividend of $0.19 (NYSE:SLGN)

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.19 per share by the industrial products company on Monday, December 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, December 2nd.

Silgan has increased its dividend payment by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Silgan has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Silgan to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.5%.

Silgan Stock Performance

Shares of SLGN traded up $0.83 during mid-day trading on Wednesday, hitting $53.92. 602,505 shares of the company’s stock were exchanged, compared to its average volume of 564,153. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. Silgan has a fifty-two week low of $40.01 and a fifty-two week high of $55.24. The business’s 50 day moving average is $51.34 and its two-hundred day moving average is $48.21. The firm has a market capitalization of $5.76 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.39 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. Silgan’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. On average, equities analysts expect that Silgan will post 3.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan 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. Robert W. Baird lifted their price target on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup increased their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Silgan has an average rating of “Moderate Buy” and a consensus price target of $57.43.

About Silgan

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.