Silgan (NYSE:SLGN) Updates FY 2024 Earnings Guidance

Silgan (NYSE:SLGN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.550-3.750 for the period, compared to the consensus earnings per share estimate of 3.630. The company issued revenue guidance of -. Silgan also updated its FY24 guidance to $3.55-3.75 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Silgan from $47.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. increased their price target on Silgan from $39.00 to $46.00 and gave the stock an underweight rating in a research report on Thursday, February 1st. Royal Bank of Canada increased their price target on Silgan from $49.00 to $51.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Truist Financial increased their price target on Silgan from $52.00 to $56.00 and gave the stock a buy rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company increased their target price on Silgan from $52.00 to $55.00 and gave the company an overweight rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Silgan currently has an average rating of Moderate Buy and an average target price of $53.13.

Silgan Trading Up 1.7 %

Silgan stock traded up $0.80 during trading on Wednesday, reaching $47.46. 98,800 shares of the company were exchanged, compared to its average volume of 565,675. Silgan has a 52-week low of $38.11 and a 52-week high of $49.72. The company has a market capitalization of $5.07 billion, a P/E ratio of 15.65, a PEG ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.02 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $46.01 and its two-hundred day simple moving average is $44.07.

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

Silgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.19 per share. This is an increase from Silgan’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Silgan’s dividend payout ratio (DPR) is presently 25.50%.

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the sale, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.08% 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.