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

Silgan Holdings Inc. (NYSE:SLGN) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $58.14.

SLGN has been the topic of a number of recent analyst reports. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lifted their price target on Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

Silgan Stock Up 0.6 %

Shares of SLGN stock opened at $52.05 on Thursday. The stock’s 50 day simple moving average is $54.05 and its 200 day simple moving average is $50.50. Silgan has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.44 and a beta of 0.69.

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 analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Silgan will post 3.6 EPS for the current year.

Silgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, December 2nd. Silgan’s dividend payout ratio is presently 27.54%.

Institutional Investors Weigh In On Silgan

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Silgan by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after acquiring an additional 204,384 shares during the period. Choreo LLC bought a new position in Silgan during the second quarter worth about $498,000. Nicola Wealth Management LTD. boosted its holdings in Silgan by 24.4% during the third quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company’s stock valued at $5,087,000 after purchasing an additional 19,000 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Silgan in the 3rd quarter valued at approximately $2,975,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Silgan by 144.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company’s stock worth $2,884,000 after buying an additional 32,432 shares in the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

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.