Silgan (NYSE:SLGN) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Silgan (NYSE:SLGN) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02), Briefing.com reports. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis.

Silgan Trading Down 0.4 %

NYSE SLGN traded down $0.20 on Thursday, reaching $52.21. The company had a trading volume of 176,542 shares, compared to its average volume of 558,608. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.22 and a beta of 0.67. Silgan has a fifty-two week low of $39.67 and a fifty-two week high of $52.84. The business has a 50 day moving average of $51.22 and a two-hundred day moving average of $48.05. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.06 and a quick ratio of 0.64.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s payout ratio is currently 26.67%.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SLGN shares. Royal Bank of Canada raised their target price on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Robert W. Baird boosted their target price on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $59.00 price objective (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silgan presently has an average rating of “Moderate Buy” and a consensus 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.