Silgan Holdings Inc. Plans Quarterly Dividend of $0.19 (NYSE:SLGN)

by · The Markets Daily

Silgan Holdings Inc. (NYSE:SLGN – Get Free Report) announced a quarterly dividend on Tuesday, November 5th, NASDAQ reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.19 per share by the industrial products company on Monday, December 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, December 2nd.

Silgan has raised its dividend payment by an average of 14.5% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Silgan has a dividend payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Silgan to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.5%.

Silgan Stock Performance

Shares of SLGN traded up $0.83 during mid-day trading on Wednesday, hitting $53.92. The company’s stock had a trading volume of 602,505 shares, compared to its average volume of 564,153. The stock’s 50-day moving average is $51.34 and its two-hundred day moving average is $48.21. The firm has a market capitalization of $5.76 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.52. Silgan has a one year low of $40.01 and a one year high of $55.24.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLGN shares. Wells Fargo & Company raised their target price on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $46.00 to $53.00 in a research report on Thursday, August 1st. Robert W. Baird upped their price target on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, StockNews.com cut Silgan from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Check Out Our Latest Stock Analysis on Silgan

Silgan Company Profile

(Get Free Report)

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.

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