Silgan Holdings Inc. (NYSE:SLGN) Shareholders to Get $0.21 Quarterly Dividend

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Tuesday, December 1st will be given a dividend of $0.21 per share by the industrial products company on Tuesday, December 15th. This represents a $0.84 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 1st.

Silgan has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Silgan has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Silgan to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 20.5%.

Silgan Stock Performance

Shares of NYSE:SLGN opened at $41.50 on Wednesday. The firm has a market cap of $4.39 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.48 and a beta of 0.64. The firm’s 50 day simple moving average is $38.33 and its 200-day simple moving average is $41.37. Silgan has a one year low of $33.70 and a one year high of $49.55. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.37 and a current ratio of 0.52.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Silgan had a return on equity of 16.73% and a net margin of 3.90%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts predict that Silgan will post 3.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup lifted their price target on shares of Silgan from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial increased their price objective on Silgan from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 30th. Bank of America boosted their target price on Silgan from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company restated an “overweight” rating and set a $52.00 target price (down from $56.00) on shares of Silgan in a research note on Monday, October 19th. Finally, BMO Capital Markets started coverage on Silgan in a research report on Thursday, July 16th. They set an “outperform” rating and a $57.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.70.

About Silgan

Silgan Holdings Inc (NYSE: SLGN) is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan’s metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.