Shares of Crown Holdings, Inc. (NYSE:CCK – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $128.47.
Several brokerages have commented on CCK. Raymond James Financial boosted their price objective on shares of Crown from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Robert W. Baird raised their target price on Crown from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Crown from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Crown in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada boosted their price target on Crown from $131.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, July 24th.
Crown Stock Down 2.1%
Shares of NYSE CCK opened at $122.22 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.71 and a current ratio of 1.14. Crown has a 52 week low of $91.31 and a 52 week high of $126.36. The stock has a market capitalization of $13.21 billion, a P/E ratio of 17.02, a PEG ratio of 1.56 and a beta of 0.54. The stock’s fifty day moving average is $113.04 and its 200 day moving average is $108.82.
Crown (NYSE:CCK – Get Free Report) last posted its quarterly earnings data on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.13. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Crown had a net margin of 5.78% and a return on equity of 27.41%. Crown’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.24 earnings per share. Sell-side analysts forecast that Crown will post 8.41 earnings per share for the current fiscal year.
Crown Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.40 annualized dividend and a yield of 1.1%. Crown’s dividend payout ratio (DPR) is 19.50%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Community Bank N.A. acquired a new position in shares of Crown during the second quarter worth $32,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Crown in the third quarter valued at $32,000. Elevation Wealth Partners LLC increased its holdings in Crown by 628.8% in the second quarter. Elevation Wealth Partners LLC now owns 481 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 415 shares during the period. Ballast Advisors LLC bought a new position in Crown during the 1st quarter worth $57,000. Finally, Provenance Wealth Advisors LLC bought a new position in Crown during the 3rd quarter worth $73,000. Institutional investors own 90.93% of the company’s stock.
About Crown
Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.
The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.
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