Silgan (NYSE:SLGN) Issues Earnings Results, Beats Estimates By $0.01 EPS

Silgan (NYSE:SLGN) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01, Briefing.com reports. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share.

Silgan Price Performance

NYSE SLGN traded down $1.43 during trading hours on Friday, hitting $51.26. 843,023 shares of the company’s stock traded hands, compared to its average volume of 660,086. Silgan has a 52-week low of $38.11 and a 52-week high of $52.84. The company has a market capitalization of $5.47 billion, a PE ratio of 18.00, a PEG ratio of 1.77 and a beta of 0.67. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.62. The firm’s 50-day moving average is $45.24 and its 200-day moving average is $45.52.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.76 annualized dividend and a yield of 1.48%. Silgan’s dividend payout ratio is presently 26.67%.

Analyst Ratings Changes

A number of research analysts have weighed in on SLGN shares. Robert W. Baird upped their price objective on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial reiterated a “buy” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Silgan in a research report on Thursday. StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $53.00 in a research report on Thursday. Finally, Citigroup boosted their target price on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Insider Activity at Silgan

In related news, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the sale, the vice president now owns 4,520 shares of the company’s stock, valued at approximately $216,236.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Silgan news, SVP Jay A. Martin sold 21,330 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $46.73, for a total value of $996,750.90. Following the transaction, the senior vice president now directly owns 165,989 shares in the company, valued at approximately $7,756,665.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the completion of the transaction, the vice president now owns 4,520 shares in the company, valued at $216,236.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,651 shares of company stock valued at $2,804,226. 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.