Silgan (NYSE:SLGN) Issues FY24 Earnings Guidance

Silgan (NYSE:SLGN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $3.55-3.75 for the period, compared to the consensus EPS estimate of $3.63. Silgan also updated its Q2 guidance to $0.82-0.92 EPS.

Analyst Ratings Changes

Several research firms recently issued reports on SLGN. Wells Fargo & Company raised their price objective on shares of Silgan from $52.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Raymond James raised their price objective on shares of Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Citigroup increased their target price on shares of Silgan from $47.00 to $51.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. increased their target price on shares of Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada increased their target price on shares of Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $53.13.

Silgan Stock Down 1.4 %

Shares of NYSE:SLGN opened at $46.64 on Wednesday. The firm’s 50 day moving average price is $46.01 and its 200 day moving average price is $44.07. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $50.18. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Silgan had a net margin of 5.44% and a return on equity of 20.29%. As a group, equities research analysts predict that Silgan will post 3.67 earnings per share for the current fiscal year.

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 issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.63%. This is a boost from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is presently 25.50%.

Insiders Place Their Bets

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the sale, the vice president now owns 8,613 shares of the company’s stock, valued at $378,024.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.08% of the stock is owned by corporate insiders.

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.