Silgan Holdings Inc. (SLGN) Receives Consensus Recommendation of “Hold” from Analysts
Silgan Holdings Inc. (NASDAQ:SLGN) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.33.
Several equities analysts have recently issued reports on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a report on Thursday, July 13th. BMO Capital Markets reissued a “buy” rating and issued a $34.00 price target on shares of Silgan Holdings in a report on Sunday, July 9th. Robert W. Baird lowered shares of Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, BidaskClub lowered shares of Silgan Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.
Shares of Silgan Holdings (NASDAQ:SLGN) opened at 29.53 on Friday. The stock has a 50 day moving average price of $30.05 and a 200-day moving average price of $30.60. Silgan Holdings has a 12-month low of $23.58 and a 12-month high of $32.50. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 23.46 and a beta of 0.54.
Silgan Holdings (NASDAQ:SLGN) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. Equities analysts anticipate that Silgan Holdings will post $1.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.36 annualized dividend and a yield of 1.22%. Silgan Holdings’s dividend payout ratio is currently 29.03%.
In related news, VP Robert B. Lewis sold 7,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas James Snyder sold 10,506 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $30.78, for a total transaction of $323,374.68. The disclosure for this sale can be found here. Insiders sold a total of 19,698 shares of company stock worth $597,429 over the last ninety days. 33.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in Silgan Holdings by 9.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,322 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 207 shares in the last quarter. Pacer Advisors Inc. lifted its position in Silgan Holdings by 1.0% in the 1st quarter. Pacer Advisors Inc. now owns 2,732 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 27 shares in the last quarter. Neuburgh Advisers LLC lifted its position in Silgan Holdings by 157.5% in the 1st quarter. Neuburgh Advisers LLC now owns 3,296 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 2,016 shares in the last quarter. US Bancorp DE lifted its position in Silgan Holdings by 3.1% in the 1st quarter. US Bancorp DE now owns 3,381 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 101 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in Silgan Holdings in the 1st quarter valued at $201,000. 67.00% of the stock is currently owned by institutional investors and hedge funds.
Silgan Holdings Company Profile
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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