Silgan (NASDAQ:SLGN) Releases FY22 Earnings Guidance

Silgan (NASDAQ:SLGNGet Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.90-4.05 for the period, compared to the Thomson Reuters consensus estimate of $3.83. Silgan also updated its Q2 guidance to $0.90-1.00 EPS.

Shares of Silgan stock traded up $0.50 during trading on Thursday, hitting $44.91. 14,272 shares of the stock were exchanged, compared to its average volume of 485,783. The stock’s fifty day moving average is $44.31 and its 200 day moving average is $42.87. The stock has a market cap of $4.96 billion, a PE ratio of 13.84, a P/E/G ratio of 2.40 and a beta of 0.78. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.99 and a current ratio of 1.52. Silgan has a 12 month low of $37.10 and a 12 month high of $46.98.

Silgan (NASDAQ:SLGNGet Rating) last announced its earnings results on Wednesday, April 27th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.40 billion. Silgan had a net margin of 6.33% and a return on equity of 26.67%. Silgan’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Sell-side analysts anticipate that Silgan will post 3.85 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 17th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Wednesday, March 16th. This is a positive change from Silgan’s previous quarterly dividend of $0.14. Silgan’s dividend payout ratio is currently 19.81%.

A number of equities research analysts have weighed in on SLGN shares. KeyCorp upped their price target on shares of Silgan from $45.00 to $47.00 and gave the company an overweight rating in a report on Thursday, January 27th. Royal Bank of Canada upped their price target on shares of Silgan from $50.00 to $57.00 in a report on Thursday, January 27th. StockNews.com started coverage on shares of Silgan in a report on Thursday, March 31st. They issued a buy rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Silgan from $41.00 to $45.00 and gave the company a hold rating in a report on Thursday, January 27th. Finally, Raymond James upped their price target on shares of Silgan from $47.00 to $50.00 and gave the company an outperform rating in a report on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $50.70.

In other news, Chairman Anthony J. Allott sold 4,431 shares of the company’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $43.58, for a total value of $193,102.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Anthony J. Allott sold 70,000 shares of the company’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $44.05, for a total value of $3,083,500.00. The disclosure for this sale can be found here. Insiders have sold 98,941 shares of company stock valued at $4,332,185 over the last ninety days. Insiders own 24.38% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of Silgan in the 4th quarter valued at about $248,000. Millennium Management LLC acquired a new position in Silgan in the fourth quarter worth approximately $368,000. Jane Street Group LLC increased its holdings in Silgan by 108.5% in the third quarter. Jane Street Group LLC now owns 10,085 shares of the industrial products company’s stock worth $387,000 after buying an additional 5,248 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Silgan by 27.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 10,423 shares of the industrial products company’s stock worth $447,000 after buying an additional 2,265 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Silgan by 11.3% in the fourth quarter. Citigroup Inc. now owns 11,913 shares of the industrial products company’s stock worth $510,000 after buying an additional 1,211 shares during the last quarter. Institutional investors own 71.89% of the company’s stock.

Silgan Company Profile (Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Earnings History and Estimates for Silgan (NASDAQ:SLGN)

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