Silgan (NYSE:SLGN) Releases Q4 2024 Earnings Guidance

Silgan (NYSE:SLGN) updated its fourth quarter 2024 earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SLGN shares. Royal Bank of Canada raised their price target on shares of Silgan from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $46.00 to $53.00 in a report on Thursday, August 1st. Citigroup increased their price objective on Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Up 1.6 %

Shares of Silgan stock traded up $0.84 during trading on Friday, hitting $52.58. The company’s stock had a trading volume of 892,766 shares, compared to its average volume of 562,160. Silgan has a 52 week low of $40.01 and a 52 week high of $52.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 0.52. The company has a fifty day simple moving average of $51.22 and a two-hundred day simple moving average of $48.05. The company has a market capitalization of $5.61 billion, a PE ratio of 19.04, a P/E/G ratio of 1.26 and a beta of 0.67.

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). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a net margin of 5.11% and a return on equity of 18.76%. Silgan’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. Equities research analysts predict 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. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Silgan’s payout ratio is presently 27.54%.

Insider Buying and Selling

In other 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 sale, 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 filing with the SEC, which is available through the SEC website. 1.39% of the stock is currently owned by company 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.