Silgan Holdings Inc. to Issue Quarterly Dividend of $0.19 (NYSE:SLGN)

Silgan Holdings Inc. (NYSE:SLGN) announced a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Investors of record on Monday, December 2nd will be given a dividend of 0.19 per share by the industrial products company on Monday, December 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, December 2nd.

Silgan has increased its dividend payment by an average of 14.5% annually over the last three years and has increased its dividend every year for the last 21 years. Silgan has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Silgan to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.5%.

Silgan Price Performance

Shares of NYSE SLGN traded up $0.83 during trading on Wednesday, reaching $53.92. The company had a trading volume of 602,505 shares, compared to its average volume of 564,153. The company has a current ratio of 0.52, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. Silgan has a twelve month low of $40.01 and a twelve month high of $55.24. The stock has a 50-day moving average price of $51.34 and a two-hundred day moving average price of $48.21. The stock has a market capitalization of $5.76 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67.

Silgan (NYSE:SLGN) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $1.75 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. As a group, sell-side analysts predict that Silgan will post 3.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLGN. Royal Bank of Canada boosted their price target on Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price target on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $59.00 price objective (up from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

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.