Silgan Holdings Inc. (NYSE:SLGN) Receives $58.14 Average Target Price from Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $58.14.

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

Hedge Funds Weigh In On Silgan

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in shares of Silgan by 87.7% in the 3rd quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after purchasing an additional 2,932,680 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Silgan by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,962,414 shares of the industrial products company’s stock worth $125,404,000 after buying an additional 204,384 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Silgan by 1.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,610,421 shares of the industrial products company’s stock worth $137,047,000 after buying an additional 29,565 shares during the period. State Street Corp increased its stake in shares of Silgan by 0.6% in the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company’s stock valued at $131,128,000 after acquiring an additional 14,109 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company’s stock valued at $78,509,000 after acquiring an additional 157,160 shares during the period. 70.25% of the stock is owned by institutional investors.

Silgan Price Performance

Shares of Silgan stock opened at $52.05 on Thursday. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.44 and a beta of 0.69. The firm’s 50-day moving average price is $54.05 and its two-hundred day moving average price is $50.50. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities analysts predict that Silgan will post 3.6 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Monday, December 2nd. Silgan’s dividend payout ratio (DPR) is 27.54%.

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.