Silgan (NYSE:SLGN) Issues Earnings Results

Silgan (NYSE:SLGN) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02, Briefing.com reports. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year.

Silgan Stock Up 2.0 %

Shares of NYSE:SLGN opened at $46.28 on Friday. The company has a market capitalization of $4.94 billion, a PE ratio of 16.24, a PEG ratio of 2.48 and a beta of 0.69. Silgan has a 52 week low of $38.11 and a 52 week high of $49.72. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 0.49. The company has a 50 day moving average price of $46.10 and a two-hundred day moving average price of $44.16.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.64%. This is a boost from Silgan’s previous quarterly dividend of $0.18. Silgan’s payout ratio is currently 26.67%.

Insider Activity

In other news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the transaction, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SLGN has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup upped their price target on Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Raymond James lifted their price objective on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their target price 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. Finally, Royal Bank of Canada lifted their price target on shares of Silgan from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Silgan has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

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.