Silgan Holdings (NASDAQ:SLGN)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Friday, StockRatingsNetwork.com reports. They currently have a $51.00 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 5.86% from the company’s current price.
Zacks‘ analyst wrote, “Silgan Holdings’ second-quarter 2013 earnings increased 15% year over year to $0.63 per share. Total revenue increased 7% year over year to $880 million. Silgan Holdings will benefit from its successful acquisitions, increasing productivity, and cost reduction initiatives such as the newly-started Can Vision 2020 and an industry-wide campaign through the Can Manufacturing Institute. However, soft demand in Europe, a high debt-to-capitalization ratio and political volatility in various international regions remain the concerns. We reiterate our Neutral recommendation on Silgan Holdings with a target price of $51.00.”
Separately, analysts at Northcoast Research initiated coverage on shares of Silgan Holdings in a research note to investors on Friday, August 23rd. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Silgan Holdings presently has an average rating of “Hold” and a consensus price target of $48.00.
Shares of Silgan Holdings (NASDAQ:SLGN) traded down 0.28% on Friday, hitting $48.04. 62,445 shares of the company’s stock traded hands. Silgan Holdings has a one year low of $40.72 and a one year high of $50.51. The stock has a 50-day moving average of $47.14 and a 200-day moving average of $47.83. The company has a market cap of $3.046 billion and a P/E ratio of 16.84.
Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $880.00 million for the quarter, compared to the consensus estimate of $865.56 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Silgan Holdings will post $3.06 earnings per share for the current fiscal year.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
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