Silgan Holdings Inc. (NYSE:SLGN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Silgan Holdings Inc. (NYSE:SLGN) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $58.14.

SLGN has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on shares of Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

Silgan Trading Up 0.9 %

NYSE:SLGN opened at $52.96 on Thursday. Silgan has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $53.97 and its 200 day moving average is $50.25. The stock has a market capitalization of $5.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69.

Silgan (NYSE:SLGN) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Silgan had a net margin of 5.11% and a return on equity of 18.76%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts expect that Silgan will post 3.6 earnings per share for the current year.

Silgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Monday, December 2nd. Silgan’s payout ratio is currently 27.54%.

Institutional Trading of Silgan

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of Silgan in the 2nd quarter worth approximately $70,000. Venturi Wealth Management LLC lifted its stake in Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 963 shares during the last quarter. GAMMA Investing LLC boosted its position in Silgan by 51.8% during the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $93,000 after buying an additional 606 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Silgan during the second quarter valued at about $104,000. Finally, KBC Group NV increased its holdings in shares of Silgan by 27.7% in the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after buying an additional 494 shares during the period. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.