Crown Holdings, Inc. (NYSE:CCK) Receives Average Rating of “Moderate Buy” from Analysts

Crown Holdings, Inc. (NYSE:CCK) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $99.21.

A number of research firms have commented on CCK. Royal Bank of Canada reduced their target price on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Truist Financial restated a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Mizuho cut their price target on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company decreased their price objective on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Wednesday, February 7th.

Crown Stock Performance

Shares of CCK opened at $80.59 on Friday. The business’s 50 day moving average price is $77.26 and its 200-day moving average price is $82.63. The stock has a market cap of $9.73 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.67 and a beta of 0.91. Crown has a 52 week low of $69.61 and a 52 week high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Equities research analysts anticipate that Crown will post 5.9 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s payout ratio is 26.60%.

Institutional Investors Weigh In On Crown

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BluePath Capital Management LLC purchased a new position in Crown during the third quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new stake in shares of Crown during the 4th quarter valued at $26,000. Rise Advisors LLC purchased a new stake in Crown in the first quarter valued at about $27,000. Mather Group LLC. acquired a new stake in Crown in the 1st quarter worth approximately $32,000. Finally, Quest Partners LLC purchased a new stake in shares of Crown during the fourth quarter valued at $34,000. 90.93% of the stock is owned by institutional investors.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.