Silgan (NYSE:SLGN) Updates FY 2023 Earnings Guidance

Silgan (NYSE:SLGNGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of $3.95-$4.15 for the period, compared to the consensus EPS estimate of $3.95. The company issued revenue guidance of -. Silgan also updated its FY23 guidance to $3.95-4.15 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SLGN shares. Royal Bank of Canada raised their target price on Silgan from $53.00 to $54.00 and gave the stock an outperform rating in a research note on Friday, October 28th. StockNews.com began coverage on shares of Silgan in a research report on Wednesday, October 12th. They set a hold rating for the company. Truist Financial upgraded Silgan from a hold rating to a buy rating and set a $64.00 price target on the stock in a research note on Thursday, January 5th. Bank of America upped their target price on shares of Silgan from $54.00 to $56.00 in a research note on Thursday, October 13th. Finally, KeyCorp increased their target price on shares of Silgan from $49.00 to $57.00 and gave the company an overweight rating in a research report on Thursday, December 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $54.50.

Silgan Stock Performance

Shares of NYSE SLGN opened at $50.79 on Wednesday. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 2.66 and a beta of 0.81. The business’s 50-day simple moving average is $52.26 and its 200-day simple moving average is $47.79. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.88 and a current ratio of 1.39. Silgan has a 52 week low of $38.59 and a 52 week high of $54.59.

Silgan (NYSE:SLGNGet Rating) last released its earnings results on Wednesday, October 26th. The industrial products company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.05. Silgan had a return on equity of 26.81% and a net margin of 6.27%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.85 billion. As a group, equities research analysts expect that Silgan will post 3.96 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a $0.16 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.26%. Silgan’s dividend payout ratio is 17.78%.

Institutional Investors Weigh In On Silgan

A number of large investors have recently added to or reduced their stakes in SLGN. Captrust Financial Advisors lifted its stake in shares of Silgan by 13.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,158 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 263 shares during the last quarter. Eagle Bay Advisors LLC boosted its stake in Silgan by 151.1% during the 2nd quarter. Eagle Bay Advisors LLC now owns 836 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 503 shares during the last quarter. Citigroup Inc. lifted its position in shares of Silgan by 5.4% during the 1st quarter. Citigroup Inc. now owns 12,553 shares of the industrial products company’s stock worth $579,000 after buying an additional 640 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Silgan by 3.3% in the 1st quarter. Bank of Montreal Can now owns 21,702 shares of the industrial products company’s stock worth $1,009,000 after purchasing an additional 703 shares during the period. Finally, Yousif Capital Management LLC lifted its position in shares of Silgan by 2.0% during the first quarter. Yousif Capital Management LLC now owns 44,850 shares of the industrial products company’s stock worth $2,073,000 after acquiring an additional 866 shares in the last quarter. Institutional investors and hedge funds own 68.21% of the company’s stock.

Silgan Company Profile

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Silgan Holdings, Inc engages in the manufacture and sale of rigid packaging for consumer goods products. It operates through the following business segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers dispensing and specialty closures for food, beverage, health care, garden, home, personal care, fragrance, and beauty products.

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Earnings History and Estimates for Silgan (NYSE:SLGN)

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