Zacks Investment Research downgraded shares of Silgan (NASDAQ:SLGN) from a buy rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “For fiscal 2018, Silgan Holdings guided adjusted EPS at $2.03-$2.13. The mid-point of the range depicts year-over-year growth of 26%, which will be driven by improvement in sales and operating income across all segments. Further, its adjusted EPS for first-quarter fiscal 2018 will benefit from inclusion of the synergies of the Dispensing Systems acquisition and benefit of the lower tax rate. Moreover, the stock has outperformed the industry over the past six months. However, Silgan Holdings’ results will be impacted by elevated resin cost due to the 2017 hurricanes. Further, increase in debt and unfavorable impact of the inventory reduction program are expected to hurt the company’s performance.”
Several other brokerages also recently issued reports on SLGN. Bank of America upped their price objective on Silgan from $32.00 to $33.00 and gave the company an underperform rating in a research report on Thursday, February 1st. KeyCorp restated a sell rating and issued a $25.00 price objective on shares of Silgan in a research report on Thursday, February 1st. JPMorgan Chase downgraded Silgan from a neutral rating to an underweight rating and set a $30.00 price objective on the stock. in a research report on Wednesday, January 17th. Vertical Research upgraded Silgan from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Finally, Barclays upgraded Silgan from an equal weight rating to an overweight rating and increased their target price for the stock from $30.00 to $35.00 in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Silgan currently has an average rating of Hold and an average target price of $31.18.
Shares of NASDAQ:SLGN opened at $27.55 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.60 and a debt-to-equity ratio of 3.18. Silgan has a 52-week low of $26.97 and a 52-week high of $32.50. The firm has a market capitalization of $3,077.54, a PE ratio of 17.00, a P/E/G ratio of 1.34 and a beta of 0.48.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. Silgan had a return on equity of 30.15% and a net margin of 6.59%. The business had revenue of $995.70 million for the quarter, compared to the consensus estimate of $970.24 million. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s revenue was up 23.6% on a year-over-year basis. equities analysts anticipate that Silgan will post 2.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 15th. This is an increase from Silgan’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.45%. Silgan’s dividend payout ratio is 24.24%.
In other Silgan news, CFO Robert B. Lewis sold 15,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $29.01, for a total transaction of $435,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director D Greg Horrigan sold 69,121 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $28.69, for a total value of $1,983,081.49. The disclosure for this sale can be found here. Insiders have sold 468,655 shares of company stock worth $13,206,189 over the last quarter. 33.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in SLGN. Millennium Management LLC increased its stake in Silgan by 1,994.4% during the fourth quarter. Millennium Management LLC now owns 1,301,496 shares of the industrial products company’s stock worth $38,251,000 after acquiring an additional 1,239,355 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in Silgan by 63.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,409,945 shares of the industrial products company’s stock worth $41,438,000 after acquiring an additional 549,657 shares during the last quarter. American Century Companies Inc. increased its stake in Silgan by 22.4% during the fourth quarter. American Century Companies Inc. now owns 1,768,586 shares of the industrial products company’s stock worth $51,979,000 after acquiring an additional 323,252 shares during the last quarter. Citadel Advisors LLC increased its stake in Silgan by 205.2% during the fourth quarter. Citadel Advisors LLC now owns 391,813 shares of the industrial products company’s stock worth $11,515,000 after acquiring an additional 263,414 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Silgan during the third quarter worth about $7,260,000. Institutional investors own 68.10% of the company’s stock.
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Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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