Silgan (NYSE:SLGN) Updates Q4 2024 Earnings Guidance

Silgan (NYSE:SLGN) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.780-0.880 for the period, compared to the consensus EPS estimate of 0.830. The company issued revenue guidance of -. Silgan also updated its FY 2024 guidance to 3.550-3.650 EPS.

Silgan Price Performance

Shares of NYSE SLGN opened at $50.84 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06. Silgan has a one year low of $39.42 and a one year high of $52.84. The firm has a market capitalization of $5.43 billion, a P/E ratio of 17.84, a PEG ratio of 1.22 and a beta of 0.67. The company’s fifty day moving average is $51.18 and its two-hundred day moving average is $48.02.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. Analysts forecast that Silgan will post 3.65 EPS for the current fiscal year.

Silgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, September 3rd. Silgan’s dividend payout ratio is currently 26.67%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Truist Financial reaffirmed 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. Finally, Wells Fargo & Company raised their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Insiders Place Their Bets

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the sale, the vice president now directly owns 11,495 shares in the company, valued at approximately $563,714.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.39% 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.