KeyCorp reissued their underweight rating on shares of Silgan (NASDAQ:SLGN) in a research note published on Friday, Marketbeat reports. KeyCorp currently has a $25.00 price target on the industrial products company’s stock, down from their previous price target of $28.99. KeyCorp also issued estimates for Silgan’s FY2017 earnings at $1.63 EPS.
Several other brokerages have also recently issued reports on SLGN. Royal Bank Of Canada assumed coverage on Silgan in a research note on Monday, October 9th. They set a sector perform rating and a $30.00 price objective on the stock. ValuEngine cut Silgan from a buy rating to a hold rating in a research note on Friday, September 1st. Zacks Investment Research cut Silgan from a hold rating to a sell rating in a research note on Tuesday, October 17th. BMO Capital Markets restated a buy rating and set a $34.00 price objective on shares of Silgan in a research note on Monday, November 20th. Finally, Robert W. Baird restated a hold rating and set a $32.00 price objective on shares of Silgan in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $30.75.
Shares of Silgan (SLGN) opened at $28.65 on Friday. Silgan has a 1 year low of $25.16 and a 1 year high of $32.50. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.73 and a current ratio of 1.26. The firm has a market cap of $3,162.18, a P/E ratio of 18.36, a PEG ratio of 1.75 and a beta of 0.52.
Silgan (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). Silgan had a return on equity of 32.87% and a net margin of 3.77%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $0.61 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. research analysts expect that Silgan will post 1.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, November 30th. Silgan’s dividend payout ratio is currently 27.38%.
In related news, Director William C. Jennings sold 25,642 shares of Silgan stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $28.38, for a total transaction of $727,719.96. Following the sale, the director now directly owns 42,180 shares in the company, valued at $1,197,068.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 33.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its stake in shares of Silgan by 79.6% during the second quarter. Northern Trust Corp now owns 648,964 shares of the industrial products company’s stock valued at $20,623,000 after purchasing an additional 287,658 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Silgan during the third quarter valued at about $491,000. Wells Fargo & Company MN raised its stake in shares of Silgan by 106.8% during the second quarter. Wells Fargo & Company MN now owns 1,608,013 shares of the industrial products company’s stock valued at $51,104,000 after purchasing an additional 830,485 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Silgan by 102.2% during the second quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock valued at $247,661,000 after purchasing an additional 3,939,145 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Silgan by 107.4% during the second quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock worth $210,947,000 after acquiring an additional 3,437,477 shares during the period. Institutional investors and hedge funds own 67.69% of the company’s stock.
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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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