Silgan Holdings Inc. (NASDAQ:SLGN) has been given an average rating of “Hold” by the nine brokerages that are currently covering the company. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $54.67.
SLGN has been the subject of a number of analyst reports. Zacks Investment Research raised Silgan Holdings from a “sell” rating to a “hold” rating in a research report on Monday. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price target on shares of Silgan Holdings in a research report on Monday, March 27th. Barclays PLC boosted their price target on Silgan Holdings from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, February 6th. Finally, Bank of America Corp raised Silgan Holdings from an “underperform” rating to a “buy” rating in a research report on Monday, January 23rd.
Shares of Silgan Holdings (NASDAQ:SLGN) traded down 0.25% on Tuesday, reaching $59.29. The company’s stock had a trading volume of 123,677 shares. The stock has a market capitalization of $3.26 billion, a P/E ratio of 23.25 and a beta of 0.57. The company has a 50 day moving average of $59.35 and a 200 day moving average of $54.73. Silgan Holdings has a 1-year low of $47.16 and a 1-year high of $61.77.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. The firm earned $805.90 million during the quarter, compared to analysts’ expectations of $814.52 million. Silgan Holdings had a return on equity of 25.75% and a net margin of 4.25%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. Equities research analysts expect that Silgan Holdings will post $3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Thursday, March 16th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.21%. This is a positive change from Silgan Holdings’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, March 14th. Silgan Holdings’s payout ratio is currently 26.67%.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Silgan Holdings by 9.2% in the fourth quarter. FMR LLC now owns 6,889,466 shares of the industrial products company’s stock valued at $352,602,000 after buying an additional 582,820 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Silgan Holdings by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 5,893,366 shares of the industrial products company’s stock valued at $298,145,000 after buying an additional 53,213 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Silgan Holdings by 5.0% in the third quarter. BlackRock Fund Advisors now owns 1,548,167 shares of the industrial products company’s stock valued at $78,322,000 after buying an additional 74,205 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Silgan Holdings by 16.7% in the third quarter. Wells Fargo & Company MN now owns 1,277,256 shares of the industrial products company’s stock valued at $64,616,000 after buying an additional 182,496 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Silgan Holdings by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,229,062 shares of the industrial products company’s stock valued at $62,178,000 after buying an additional 4,189 shares in the last quarter. Hedge funds and other institutional investors own 74.27% of the company’s stock.
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About Silgan Holdings
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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