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

Silgan (NYSE:SLGN) issued its quarterly earnings data on Wednesday. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02), Briefing.com reports. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS.

Silgan Stock Up 1.7 %

NYSE SLGN traded up $0.90 during mid-day trading on Friday, hitting $52.64. The company’s stock had a trading volume of 892,882 shares, compared to its average volume of 428,856. 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 company’s 50 day simple moving average is $51.26 and its 200 day simple moving average is $48.11. Silgan has a twelve month low of $40.01 and a twelve month high of $52.84. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.26 and a beta of 0.67.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s payout ratio is 27.54%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SLGN shares. Royal Bank of Canada increased their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday. 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. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Citigroup increased their price target on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Silgan has an average rating of “Moderate Buy” and an average price target of $57.43.

Insider Activity

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

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.