Silgan (SLGN) to Release Quarterly Earnings on Wednesday

Silgan (NYSE:SLGN) is set to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $1.24 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $0.83 EPS. Silgan’s revenue was down 3.2% on a year-over-year basis. On average, analysts expect Silgan to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Silgan Trading Down 0.6 %

NYSE SLGN opened at $51.09 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 1.06 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $51.03 and a two-hundred day moving average of $47.91. The stock has a market capitalization of $5.46 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.53 and a beta of 0.67. Silgan has a 52 week low of $38.11 and a 52 week high of $52.84.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is 26.67%.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SLGN has been the topic of several research analyst reports. StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Citigroup lifted their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

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.