Silgan (NYSE:SLGN) Releases FY 2024 Earnings Guidance

Silgan (NYSE:SLGN) updated its FY 2024 earnings guidance on Wednesday. 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 Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James increased their target price on Silgan from $52.00 to $54.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their target price on Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a research note on Thursday, February 1st. Wells Fargo & Company increased their target price on Silgan from $52.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Royal Bank of Canada increased their target price on Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Finally, Truist Financial increased their target price on Silgan from $52.00 to $56.00 and gave the stock a buy rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $53.13.

Silgan Stock Up 1.7 %

Shares of SLGN traded up $0.80 during mid-day trading on Wednesday, reaching $47.46. 98,800 shares of the stock traded hands, compared to its average volume of 565,675. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 2.58 and a beta of 0.68. The stock has a fifty day simple moving average of $46.01 and a 200 day simple moving average of $44.07. Silgan has a 12-month low of $38.11 and a 12-month high of $49.72. The company has a quick ratio of 0.61, a current ratio of 1.02 and a debt-to-equity ratio of 1.35.

Silgan (NYSE:SLGN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Silgan had a net margin of 5.44% and a return on equity of 20.29%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. Sell-side analysts expect that Silgan will post 3.67 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Silgan’s previous quarterly dividend of $0.18. Silgan’s dividend payout ratio (DPR) is presently 25.50%.

Insiders Place Their Bets

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now owns 8,613 shares of the company’s stock, valued at $378,024.57. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.08% of the stock is currently owned by corporate insiders.

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.