Silgan (NYSE:SLGN) Releases Q4 2024 Earnings Guidance

Silgan (NYSE:SLGN) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.780-0.880 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of -. Silgan also updated its FY 2024 guidance to 3.550-3.650 EPS.

Silgan Stock Performance

NYSE SLGN traded up $0.84 during trading hours on Friday, hitting $52.58. 892,766 shares of the stock were exchanged, compared to its average volume of 562,160. The company has a quick ratio of 0.64, a current ratio of 0.52 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average of $51.22 and a 200 day moving average of $48.05. Silgan has a 12-month low of $40.01 and a 12-month high of $52.84. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, equities research analysts forecast that Silgan will post 3.65 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. Silgan’s dividend payout ratio (DPR) is presently 27.54%.

Wall Street Analyst Weigh In

SLGN has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. StockNews.com cut shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Insiders Place Their Bets

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 11,495 shares in the company, valued at $563,714.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

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.