Zacks Investment Research upgraded shares of Silgan (NASDAQ:SLGN) from a hold rating to a buy rating in a research report sent to investors on Tuesday, December 26th. They currently have $33.00 target price on the industrial products company’s stock.
According to Zacks, “For the fourth quarter 2017, Silgan anticipates earnings per share in the range of 30-35 cents, the mid-point of the guidance range depicts 35% year-over-year growth. The company continues to enhance profitability through strategic acquisitions and footprint expansion. The acquisition of Dispensing Systems will help boost its scope in the closure business. Further, Silgan is poised to gain from opportunities in the health care market and its focus on improving operational footprint in the legacy closures business. Moreover, the company has outperformed the industry in the past year.”
A number of other equities analysts have also recently issued reports on the company. ValuEngine cut Silgan from a buy rating to a hold rating in a report on Friday, September 1st. BMO Capital Markets restated a buy rating and set a $34.00 price objective on shares of Silgan in a report on Monday, November 20th. KeyCorp restated an underweight rating and set a $25.00 price objective (down previously from $28.99) on shares of Silgan in a report on Friday, December 8th. Royal Bank of Canada initiated coverage on Silgan in a report on Monday, October 9th. They set a sector perform rating and a $30.00 price objective for the company. Finally, Robert W. Baird restated a hold rating and set a $32.00 price objective on shares of Silgan in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Silgan presently has an average rating of Hold and a consensus price target of $31.00.
Silgan (NASDAQ SLGN) opened at $29.52 on Tuesday. The company has a market capitalization of $3,260.00, a P/E ratio of 22.53, a PEG ratio of 1.58 and a beta of 0.51. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 3.96. Silgan has a 1-year low of $26.67 and a 1-year high of $32.50.
Silgan (NASDAQ:SLGN) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.03). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Silgan had a return on equity of 32.87% and a net margin of 3.77%. Silgan’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. research analysts forecast that Silgan will post 1.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, November 30th. Silgan’s dividend payout ratio (DPR) is presently 27.48%.
In other Silgan news, Director William C. Jennings sold 25,642 shares of Silgan stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $28.38, for a total transaction of $727,719.96. Following the completion of the sale, the director now directly owns 42,180 shares of the company’s stock, valued at approximately $1,197,068.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 33.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SLGN. Bank of Montreal Can raised its position in Silgan by 89.3% during the 2nd quarter. Bank of Montreal Can now owns 3,916 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 1,847 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Silgan by 100.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 45,796 shares of the industrial products company’s stock valued at $1,455,000 after purchasing an additional 22,898 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Silgan by 212.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 811,183 shares of the industrial products company’s stock valued at $25,780,000 after purchasing an additional 551,311 shares in the last quarter. Arizona State Retirement System raised its position in Silgan by 102.6% during the 2nd quarter. Arizona State Retirement System now owns 31,600 shares of the industrial products company’s stock valued at $1,004,000 after purchasing an additional 16,000 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Silgan during the 2nd quarter valued at $7,452,000. 66.62% of the stock is owned by institutional investors and hedge funds.
Silgan 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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