Silgan (NYSE:SLGN) Issues FY 2024 Earnings Guidance

Silgan (NYSE:SLGN) issued an update on 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.

Analysts Set New Price Targets

SLGN has been the subject of several research analyst reports. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Citigroup lifted their price target on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Silgan Stock Performance

Shares of NYSE:SLGN 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. The company has a 50-day moving average of $51.22 and a 200-day moving average of $48.05. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.52 and a quick ratio of 0.64. The firm has a market cap of $5.61 billion, a price-to-earnings 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 posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business earned $1.16 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Silgan will post 3.65 earnings per share for the current year.

Silgan Announces Dividend

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

Insider Buying and Selling

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.39% of the stock is currently owned by company insiders.

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.