Silgan (SLGN) to Release Earnings on Wednesday

Silgan (NYSE:SLGN) is scheduled to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Silgan to post earnings of $1.24 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. Silgan’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. On average, analysts expect Silgan to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Silgan Stock Down 0.1 %

Silgan stock opened at $50.90 on Monday. The firm has a 50 day simple moving average of $51.15 and a 200 day simple moving average of $47.98. The company has a current ratio of 1.06, a quick ratio of 0.64 and a debt-to-equity ratio of 1.31. Silgan has a 1-year low of $38.67 and a 1-year high of $52.84. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 1.23 and a beta of 0.67.

Silgan Announces Dividend

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 $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, September 3rd. Silgan’s payout ratio is currently 26.67%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLGN. Royal Bank of Canada increased their price objective on Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Silgan from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $53.00 in a research note on Thursday, August 1st. Finally, Truist Financial restated a “buy” rating and set a $59.00 price target (up from $56.00) on shares of Silgan 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Insider Buying and Selling at Silgan

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the transaction, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.