Silgan Holdings Inc. (SLGN) Earns Buy Rating from BMO Capital Markets
BMO Capital Markets reaffirmed their buy rating on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a report published on Monday. The brokerage currently has a $34.00 price objective on the industrial products company’s stock.
Several other equities analysts have also weighed in on SLGN. KeyCorp reaffirmed a hold rating on shares of Silgan Holdings in a research report on Friday, August 25th. BidaskClub raised shares of Silgan Holdings from a strong sell rating to a sell rating in a research report on Monday, August 14th. ValuEngine lowered shares of Silgan Holdings from a buy rating to a hold rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Silgan Holdings from a hold rating to a sell rating in a research report on Tuesday, October 17th. Finally, Bank of America Corporation lowered shares of Silgan Holdings from a buy rating to a neutral rating and set a $35.00 price objective on the stock. in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Silgan Holdings presently has a consensus rating of Hold and an average target price of $31.57.
Shares of Silgan Holdings (NASDAQ:SLGN) opened at $28.29 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.96. The stock has a market cap of $3,141.21, a P/E ratio of 18.24, a PEG ratio of 1.74 and a beta of 0.52. Silgan Holdings has a 52-week low of $24.36 and a 52-week high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.03). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Silgan Holdings had a net margin of 3.77% and a return on equity of 32.87%. Silgan Holdings’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. research analysts anticipate that Silgan Holdings will post 1.64 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.36 annualized dividend and a yield of 1.27%. Silgan Holdings’s dividend payout ratio (DPR) is presently 27.38%.
In other Silgan Holdings news, VP Anthony P. Andreacchi sold 2,192 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 33.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Silgan Holdings by 89.3% in the second quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 1,847 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Silgan Holdings in the second quarter worth $127,000. Victory Capital Management Inc. acquired a new stake in shares of Silgan Holdings in the second quarter worth $140,000. Pacad Investment Ltd. grew its stake in shares of Silgan Holdings by 15.6% in the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 700 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Silgan Holdings in the third quarter worth $167,000. Institutional investors and hedge funds own 65.89% of the company’s stock.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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