Silgan (NYSE:SLGN) Issues FY 2024 Earnings Guidance

Silgan (NYSE:SLGN) updated its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.550-3.650 for the period, compared to the consensus EPS estimate of 3.640. The company issued revenue guidance of -. Silgan also updated its FY24 guidance to $3.55-$3.65 EPS.

Silgan Trading Up 1.6 %

NYSE:SLGN traded up $0.84 during midday trading on Friday, hitting $52.58. 892,766 shares of the company traded hands, compared to its average volume of 562,160. The company has a current ratio of 0.52, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. The firm’s fifty day moving average is $51.22 and its 200-day moving average is $48.05. The firm has a market capitalization of $5.61 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.26 and a beta of 0.67. Silgan has a 12-month low of $40.01 and a 12-month high of $52.84.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the business posted $1.16 EPS. Silgan’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Silgan will post 3.65 EPS for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio is currently 27.54%.

Analyst Upgrades and Downgrades

SLGN has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial restated a “buy” rating and issued a $59.00 target price (up from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Finally, StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Insider Transactions at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the transaction, the vice president now owns 11,495 shares in the company, valued at $563,714.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.39% of the company’s stock.

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.