Silgan (NYSE:SLGN) Issues FY 2024 Earnings Guidance

Silgan (NYSE:SLGN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.550-3.750 for the period, compared to the consensus estimate of 3.630. The company issued revenue guidance of -. Silgan also updated its FY24 guidance to $3.55-3.75 EPS.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SLGN shares. Wells Fargo & Company decreased their price objective on shares of Silgan from $55.00 to $54.00 and set an overweight rating for the company in a report on Thursday. Royal Bank of Canada increased their price target on Silgan from $49.00 to $51.00 and gave the company an outperform rating in a report on Thursday, February 1st. Raymond James lifted their price objective on Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a research report on Thursday, February 1st. Finally, Citigroup upped their price target 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. 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 company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $53.00.

Silgan Stock Performance

Silgan stock traded up $0.89 during midday trading on Friday, hitting $46.28. The stock had a trading volume of 704,405 shares, compared to its average volume of 647,615. Silgan has a 52-week low of $38.11 and a 52-week high of $49.72. The company has a market capitalization of $4.94 billion, a PE ratio of 16.24, a P/E/G ratio of 2.48 and a beta of 0.69. The firm’s fifty day moving average is $46.10 and its two-hundred day moving average is $44.16. The company has a current ratio of 0.49, a quick ratio of 0.61 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, research analysts forecast that Silgan will post 3.67 EPS for the current year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.64%. This is an increase from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, March 13th. Silgan’s payout ratio is presently 26.67%.

Insider Buying and Selling

In related news, VP B Frederik Prinzen sold 4,684 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.08% of the stock is currently owned by company insiders.

Silgan Company Profile

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.