Stock News in Focus: Silgan Holdings Inc. (NASDAQ: SLGN)
Silgan Holdings Inc. stock identified change of 39.61% away from 52-week low price and recently located move of -2.02% off 52-week high price. It has market worth of $3383.83M and dividend yield of 1.42%. SLGN stock has been recorded 4.07% away from 50 day moving average and 5.68% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.91% off 20-day moving average.
Silgan Holdings Inc. (SLGN) recently stated third quarter 2019 net income of $81.3M, or $0.73 per diluted share, as contrast to third quarter 2018 net income of $84.7M, or $0.76 per diluted share.
Adjusted net income per diluted share was $0.76 for the third quarter of 2019, after adjustments increasing net income per diluted share by $0.03. Adjusted net income per diluted share was $0.76 for the third quarter of 2018. A reconciliation of net income per diluted share to “adjusted net income per diluted share,” a Non-GAAP financial measure used by the Company that adjusts net income per diluted share for certain items, can be found in Tables A and B at the back of this press release.
Net sales for the third quarter of 2019 were $1.32B, a raise of $14.3M, or 1.1 percent, as contrast to $1.31B in 2018. This increase was the result of higher net sales in the metal container business, partially offset by a decrease in net sales in the closures and plastic container businesses.
Income before interest and income taxes for the third quarter of 2019 was $132.7M, a decrease of $5.8M as contrast to $138.5M for the third quarter of 2018, and margins reduced to 10.0 percent from 10.6 percent for the same periods. The decrease in income before interest and income taxes was primarily the result of rationalization charges of $3.2M in the third quarter of 2019 as contrast to $0.3M in the previousyear quarter. In addition, the metal container and closures businesses had slightly lower section income, partially offset by higher section income in the plastic container business. Additionally, each of the businesses was unfavorably influenced by the non-cash reduction in pension income in the current year quarter.
Interest and other debt expense before loss on early extinguishment of debt for the third quarter of 2019 was $26.7M, a decrease of $1.5M as contrast to the third quarter of 2018. This decrease was primarily Because of lower average outstanding borrowings as a result of the repayment of debt at the end of 2018 and lower weighted average interest rates due in part to the redemption on August 1, 2019 of all outstanding 5½% Senior Notes due 2022. Loss on early extinguishment of debt of $1.7M in the third quarter of 2019 was the result of the redemption of all outstanding 5½% Senior Notes in August 2019.
The effective tax rates were 22.0 percent and 23.1 percent for the third quarters of 2019 and 2018, respectively.
The Consumer Goods sector company, Silgan Holdings Inc. noticed change of 0.03% to $31.05 along volume of 561439 shares in recent session compared to an average volume of 391.18K. The stock observed return of 3.57% in 5 days trading activity. The stock was at 4.30% over one-month performance. SLGN’s shares are at 2.51% for the quarter and driving a 19.47% return over the course of the past year and is now at 31.46% since this point in 2018. The average volatility for the week at 2.27% and for month was at 1.79%. There are 108.98M shares outstanding and 77.68M shares are floated in market. Right now the stock beta is 0.76.

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