Silgan Holdings Inc. (NYSE:SLGN) Receives $58.14 Consensus Price Target from Brokerages

Silgan Holdings Inc. (NYSE:SLGN) has received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $58.14.

SLGN has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their target price on shares of Silgan from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th.

Silgan Stock Down 0.6 %

Silgan stock opened at $52.55 on Thursday. The firm has a 50 day simple moving average of $54.00 and a 200 day simple moving average of $50.32. 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. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN) last announced its quarterly 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 company had revenue of $1.75 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. On average, analysts predict that Silgan will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.45%. Silgan’s payout ratio is presently 27.54%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after acquiring an additional 2,932,680 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Silgan in the 2nd quarter worth $19,666,000. Weiss Asset Management LP bought a new stake in Silgan in the third quarter worth $11,422,000. Dimensional Fund Advisors LP boosted its position 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 valued at $125,404,000 after buying an additional 204,384 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Silgan by 202.3% during the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock valued at $13,015,000 after buying an additional 165,900 shares during the last quarter. Institutional investors own 70.25% 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.