Silgan Holdings Inc. (NYSE:SLGN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Silgan Holdings Inc. (NYSE:SLGN) have been given an average rating of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $57.43.

A number of research analysts recently commented on the company. Royal Bank of Canada increased their target price on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial restated a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st.

Institutional Trading of Silgan

A number of institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its holdings in shares of Silgan by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 40,071 shares of the industrial products company’s stock worth $1,696,000 after purchasing an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Silgan by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 250 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Silgan by 2.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,707 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 267 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Silgan by 5.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 388 shares during the period. Finally, AQR Capital Management LLC raised its stake in Silgan by 1.1% in the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 421 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Trading Up 0.8 %

Shares of SLGN stock opened at $54.52 on Wednesday. The company’s fifty day simple moving average is $51.56 and its two-hundred day simple moving average is $48.45. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.52 and a quick ratio of 0.36. Silgan has a 1 year low of $40.01 and a 1 year high of $55.24. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.40 and a beta of 0.67.

Silgan (NYSE:SLGN) last issued 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). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. As a group, analysts anticipate that Silgan will post 3.6 earnings per share for the current year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.39%. Silgan’s dividend payout ratio is currently 27.54%.

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.