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 3.550-3.650 for the period, compared to the consensus estimate of 3.640. The company issued revenue guidance of -. Silgan also updated its FY24 guidance to $3.55-$3.65 EPS.

Silgan Trading Up 1.6 %

Shares of SLGN stock traded up $0.84 during trading hours on Friday, reaching $52.58. The company had a trading volume of 892,766 shares, compared to its average volume of 562,160. Silgan has a 1-year low of $40.01 and a 1-year high of $52.84. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.52 and a quick ratio of 0.64. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 1.26 and a beta of 0.67. The company has a 50 day moving average of $51.22 and a 200 day moving average of $48.05.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Silgan will post 3.65 EPS for the current year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. Silgan’s dividend payout ratio is presently 27.54%.

Analyst Ratings Changes

SLGN has been the subject of a number of research reports. Robert W. Baird increased their price objective on Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. 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 report on Thursday, August 1st. Truist Financial reissued 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 lifted their target price 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Insiders Place Their Bets

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s 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 transaction, the vice president now owns 11,495 shares in the company, valued at $563,714.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.39% of the company’s stock.

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.