Silgan (NASDAQ:SLGN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.50-$0.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.51. Silgan also updated its FY18 guidance to $2.03-$2.13 EPS.
Shares of NASDAQ SLGN traded down $0.23 during trading on Thursday, reaching $28.92. The stock had a trading volume of 252,285 shares, compared to its average volume of 593,890. Silgan has a one year low of $26.97 and a one year high of $32.50. The company has a current ratio of 1.35, a quick ratio of 0.60 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $2,995.86, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.30 and a beta of 0.48.
Silgan (NASDAQ:SLGN) last issued its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.07. Silgan had a return on equity of 30.15% and a net margin of 6.59%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $981.34 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was up 25.7% on a year-over-year basis. equities analysts predict that Silgan will post 2.09 earnings per share for the current year.
The business also recently disclosed 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 represents a $0.40 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Silgan’s previous quarterly dividend of $0.09. Silgan’s payout ratio is currently 24.24%.
A number of research firms recently issued reports on SLGN. JPMorgan Chase boosted their price objective on Silgan from $31.00 to $32.00 and gave the company an underweight rating in a research report on Thursday. KeyCorp set a $25.00 price objective on Silgan and gave the company a sell rating in a research report on Wednesday. Citigroup reduced their price objective on Silgan from $33.00 to $31.00 and set a neutral rating for the company in a research report on Thursday, April 5th. Zacks Investment Research lowered Silgan from a buy rating to a hold rating in a research report on Tuesday, April 3rd. Finally, ValuEngine lowered Silgan from a hold rating to a sell rating in a research report on Monday, April 2nd. Six research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $31.36.
In other news, CFO Robert B. Lewis sold 15,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $29.01, for a total value of $435,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director D Greg Horrigan sold 28,600 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $28.61, for a total value of $818,246.00. Following the completion of the sale, the director now owns 7,826,790 shares of the company’s stock, valued at approximately $223,924,461.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,655 shares of company stock valued at $13,206,189. Insiders own 33.10% of the company’s stock.
Silgan Company Profile
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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