Somewhat Positive Press Coverage Somewhat Unlikely to Impact Silgan Holdings (SLGN) Stock Price
News headlines about Silgan Holdings (NASDAQ:SLGN) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Silgan Holdings earned a news sentiment score of 0.24 on Accern’s scale. Accern also gave press coverage about the industrial products company an impact score of 46.7229180824784 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Shares of Silgan Holdings (NASDAQ SLGN) opened at 29.45 on Wednesday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 23.39 and a beta of 0.53. The firm has a 50 day moving average price of $29.57 and a 200-day moving average price of $30.54. Silgan Holdings has a 12-month low of $23.58 and a 12-month high of $32.50.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts expect that Silgan Holdings will post $1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. Silgan Holdings’s dividend payout ratio is presently 29.03%.
Several brokerages have recently weighed in on SLGN. BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research cut shares of Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price target on shares of Silgan Holdings in a research note on Sunday, July 9th. Goldman Sachs Group, Inc. (The) downgraded shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 13th. Finally, Robert W. Baird downgraded shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.33.
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In related news, insider Thomas James Snyder sold 10,506 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert B. Lewis sold 7,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. Insiders sold a total of 19,698 shares of company stock valued at $597,429 in the last three months. Insiders own 33.10% 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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