Silgan (NYSE:SLGN) Issues FY 2024 Earnings Guidance

Silgan (NYSE:SLGN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.550-3.650 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 Stock Up 1.6 %

Shares of SLGN stock traded up $0.84 during mid-day trading on Friday, hitting $52.58. The stock had a trading volume of 892,766 shares, compared to its average volume of 562,160. Silgan has a 12-month low of $40.01 and a 12-month 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’s 50-day moving average is $51.22 and its two-hundred day moving average is $48.05. The firm has a market capitalization of $5.61 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its quarterly earnings data 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). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. On average, analysts predict that Silgan will post 3.65 earnings per share for the current fiscal 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 paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, September 3rd. Silgan’s dividend payout ratio (DPR) is 27.54%.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Robert W. Baird raised their price target on shares of Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Citigroup boosted their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada raised their target price on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the sale, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.