Silgan (NYSE:SLGN) Releases 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.

Analyst Ratings Changes

Several analysts have recently issued reports on SLGN shares. Royal Bank of Canada upped their target price on shares of Silgan from $49.00 to $51.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Wells Fargo & Company dropped their target price on shares of Silgan from $55.00 to $54.00 and set an overweight rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Silgan from $39.00 to $46.00 and gave the company an underweight rating in a research note on Thursday, February 1st. Citigroup upped their target price on Silgan from $47.00 to $51.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Finally, Raymond James raised their target price on shares of Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a report on Thursday, February 1st. One research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $53.00.

Silgan Stock Up 2.0 %

Shares of NYSE:SLGN traded up $0.89 during trading on Friday, hitting $46.28. The company’s stock had a trading volume of 704,405 shares, compared to its average volume of 647,615. 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 company has a debt-to-equity ratio of 1.35, a quick ratio of 0.61 and a current ratio of 0.49. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $49.72. The business has a 50 day moving average price of $46.10 and a two-hundred day moving average price of $44.16.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. 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 company posted $0.78 earnings per share. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, research analysts expect that Silgan will post 3.67 EPS for the current fiscal year.

Silgan Increases Dividend

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

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the sale, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.08% of the stock is 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.