Silgan (SLGN) to Release Quarterly Earnings on Wednesday

Silgan (NYSE:SLGN) will be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Silgan to post earnings of $0.67 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Silgan had a return on equity of 20.29% and a net margin of 5.44%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.39 billion. On average, analysts expect Silgan to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Silgan Price Performance

SLGN opened at $47.23 on Wednesday. The stock’s 50 day moving average price is $45.77 and its 200-day moving average price is $43.91. Silgan has a 52-week low of $38.11 and a 52-week high of $54.92. The stock has a market capitalization of $5.04 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02.

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.19 per share. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 13th. Silgan’s payout ratio is presently 25.50%.

Insiders Place Their Bets

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the transaction, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.08% of the company’s stock.

Analyst Ratings Changes

SLGN has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Truist Financial increased their target price on Silgan from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Royal Bank of Canada lifted their price target on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Raymond James increased their price objective on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Citigroup boosted their target price on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.13.

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.