Silgan (NYSE:SLGN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Silgan (NYSE:SLGN) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02, Briefing.com reports. Silgan had a net margin of 5.44% and a return on equity of 20.29%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year.

Silgan Price Performance

Shares of SLGN stock traded up $0.67 on Thursday, reaching $45.39. 1,373,371 shares of the company were exchanged, compared to its average volume of 590,144. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 2.54 and a beta of 0.69. The business has a 50-day moving average price of $46.07 and a 200 day moving average price of $44.12. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 1.02. Silgan has a 1 year low of $38.11 and a 1 year high of $49.72.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.19 dividend. This is a boost from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.67%. Silgan’s payout ratio is presently 25.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Citigroup boosted their target price on shares of Silgan from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Raymond James boosted their target price on shares of Silgan from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company decreased their target price on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of Silgan from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Transactions at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares of the company’s stock, valued at $378,024.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.08% 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.