Silgan (NYSE:SLGN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Silgan (NYSE:SLGN) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01, Briefing.com reports. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $0.83 EPS. Silgan’s revenue for the quarter was down 3.2% on a year-over-year basis.

Silgan Price Performance

Shares of NYSE:SLGN traded up $0.65 during midday trading on Thursday, hitting $52.08. 545,177 shares of the stock were exchanged, compared to its average volume of 580,129. Silgan has a twelve month low of $38.11 and a twelve month high of $52.52. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average price of $44.93 and a 200-day moving average price of $45.37. The stock has a market cap of $5.56 billion, a P/E ratio of 18.21, a PEG ratio of 1.64 and a beta of 0.67.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, June 3rd. Silgan’s dividend payout ratio (DPR) is 26.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank of Canada upped their price objective on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup raised Silgan from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, July 8th. Wells Fargo & Company upped their price objective on shares of Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird lifted their price objective on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Truist Financial restated a “buy” rating and issued a $59.00 price target (up from $56.00) on shares of Silgan in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.57.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 4,093 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $47.84, for a total value of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares in the company, valued at $216,236.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jay A. Martin sold 4,228 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.13, for a total value of $199,265.64. Following the completion of the transaction, the senior vice president now owns 144,161 shares of the company’s stock, valued at approximately $6,794,307.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP B Frederik Prinzen sold 4,093 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares in the company, valued at $216,236.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,651 shares of company stock valued at $2,804,226. 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.