Silgan (NASDAQ:SLGN) released its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.02 billion. Silgan had a net margin of 5.03% and a return on equity of 26.82%. Silgan updated its Q1 guidance to 0.43-0.48 EPS and its FY19 guidance to 2.23-2.33 EPS.
Shares of NASDAQ:SLGN opened at $28.57 on Thursday. Silgan has a 12 month low of $22.24 and a 12 month high of $29.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.20 and a current ratio of 0.40. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.67 and a beta of 0.83.
In related news, VP Robert B. Lewis sold 18,700 shares of Silgan stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $25.18, for a total transaction of $470,866.00. Following the transaction, the vice president now owns 361,723 shares of the company’s stock, valued at approximately $9,108,185.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.32% of the stock is owned by corporate insiders.
Several research firms recently commented on SLGN. Barclays cut their target price on shares of Silgan from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, October 29th. BidaskClub upgraded shares of Silgan from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Royal Bank of Canada dropped their price objective on shares of Silgan to $25.00 and set a “sector perform” rating for the company in a research note on Monday, October 29th. BMO Capital Markets dropped their price objective on shares of Silgan from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Finally, Wells Fargo & Co dropped their target price on shares of Silgan from $30.00 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.45.
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Silgan Company Profile
Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.
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