Silgan Holdings Inc. (NASDAQ:SLGN) Receives Consensus Recommendation of “Hold” from Analysts
Silgan Holdings Inc. (NASDAQ:SLGN) has been assigned an average recommendation of “Hold” from the twelve research firms that are covering the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $52.00.
SLGN has been the subject of several research reports. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. BMO Capital Markets cut Silgan Holdings from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $58.00 to $47.00 in a research note on Wednesday, June 8th. Wells Fargo & Co. cut Silgan Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Citigroup Inc. decreased their target price on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, August 2nd. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $53.00 target price on shares of Silgan Holdings in a research note on Wednesday, June 1st.
In related news, VP Anthony P. Andreacchi sold 1,221 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $48.48, for a total value of $59,194.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP B Frederik Prinzen sold 1,000 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $48.05, for a total value of $48,050.00. The disclosure for this sale can be found here. 32.94% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Fiera Capital Corp bought a new position in Silgan Holdings during the second quarter worth $54,190,000. Norges Bank bought a new position in Silgan Holdings during the fourth quarter worth $33,681,000. FMR LLC raised its position in Silgan Holdings by 6.4% in the second quarter. FMR LLC now owns 6,112,850 shares of the company’s stock worth $314,567,000 after buying an additional 366,272 shares during the period. Emerald Acquisition Ltd. bought a new position in Silgan Holdings during the second quarter worth $12,592,000. Finally, BTIM Corp. raised its position in Silgan Holdings by 32.4% in the second quarter. BTIM Corp. now owns 599,586 shares of the company’s stock worth $30,855,000 after buying an additional 146,843 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.
Silgan Holdings (NASDAQ:SLGN) traded down 0.06% on Wednesday, hitting $50.06. 54,289 shares of the stock were exchanged. The company’s 50-day moving average is $48.82 and its 200-day moving average is $50.84. Silgan Holdings has a 52 week low of $47.00 and a 52 week high of $56.06. The company has a market cap of $3.03 billion, a PE ratio of 19.46 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Silgan Holdings had a return on equity of 25.69% and a net margin of 4.23%. The company earned $874.60 million during the quarter, compared to analysts’ expectations of $895.15 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts predict that Silgan Holdings will post $2.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.17 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. Silgan Holdings’s dividend payout ratio (DPR) is 26.25%.
About Silgan Holdings
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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