Silgan Holdings Given Consensus Rating of “Hold” by Brokerages (NASDAQ:SLGN)
Shares of Silgan Holdings (NASDAQ:SLGN) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the company, American Banking News.com reports. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $50.44.
Silgan Holdings (NASDAQ:SLGN) traded down 0.22% during mid-day trading on Thursday, hitting $50.27. The stock had a trading volume of 34,046 shares. Silgan Holdings has a 52 week low of $43.77 and a 52 week high of $51.99. The stock’s 50-day moving average is $50.14 and its 200-day moving average is $49.. The company has a market cap of $3.188 billion and a P/E ratio of 18.30.
Silgan Holdings (NASDAQ:SLGN) last announced its earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $917.30 million for the quarter, compared to the consensus estimate of $934.11 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Silgan Holdings will post $3.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, August 29th.
A number of analysts have recently weighed in on SLGN shares. Analysts at BMO Capital Markets initiated coverage on shares of Silgan Holdings in a research note on Thursday. They set a “market perform” rating and a $50.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Silgan Holdings in a research note on Wednesday, July 30th. They now have a $56.00 price target on the stock, up previously from $52.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Silgan Holdings in a research note on Friday, July 25th. They now have a $53.00 price target on the stock.
In other Silgan Holdings news, COO Adam J. Greenlee sold 39,328 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $50.02, for a total transaction of $1,967,186.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Silgan Holdings Inc is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products.
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