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

Crown Holdings, Inc. (NYSE:CCK – Get Rating) has earned an average rating of “Buy” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $142.00.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Crown from a “buy” rating to a “hold” rating and set a $127.00 price target on the stock. in a research report on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crown from $136.00 to $142.00 in a research report on Friday, February 11th. Citigroup lifted their price target on shares of Crown from $143.00 to $151.00 in a research report on Friday, April 8th. StockNews.com began coverage on shares of Crown in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Mizuho dropped their price objective on shares of Crown from $131.00 to $126.00 in a research note on Wednesday, April 27th.

In related news, insider Hock Huat Goh sold 2,030 shares of Crown stock in a transaction on Monday, March 7th. The shares were sold at an average price of $125.19, for a total value of $254,135.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 13,370 shares of company stock valued at $1,642,601. Insiders own 1.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in Crown by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 698,881 shares of the industrial products company’s stock valued at $70,433,000 after purchasing an additional 26,227 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Crown by 8.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 87,261 shares of the industrial products company’s stock valued at $9,653,000 after acquiring an additional 6,755 shares during the period. Bank of Montreal Can boosted its holdings in shares of Crown by 328.6% during the fourth quarter. Bank of Montreal Can now owns 99,008 shares of the industrial products company’s stock valued at $10,847,000 after acquiring an additional 75,905 shares during the period. abrdn plc boosted its holdings in shares of Crown by 8.3% during the fourth quarter. abrdn plc now owns 15,410 shares of the industrial products company’s stock valued at $1,704,000 after acquiring an additional 1,178 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Crown by 14.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 29,525 shares of the industrial products company’s stock valued at $3,266,000 after acquiring an additional 3,723 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Shares of CCK traded up $3.49 during mid-day trading on Friday, hitting $106.93. The company had a trading volume of 1,261,445 shares, compared to its average volume of 1,232,935. The business’s 50-day simple moving average is $114.69 and its 200-day simple moving average is $113.81. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 2.50. Crown has a 1-year low of $95.27 and a 1-year high of $130.42. The stock has a market cap of $13.15 billion, a PE ratio of -23.92, a P/E/G ratio of 2.47 and a beta of 1.11.

Crown (NYSE:CCK – Get Rating) last released its earnings results on Monday, April 25th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.19. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Crown had a negative net margin of 4.63% and a positive return on equity of 39.60%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned $1.83 earnings per share. On average, sell-side analysts expect that Crown will post 8.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Investors of record on Thursday, May 12th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. Crown’s dividend payout ratio (DPR) is presently -19.69%.

About Crown (Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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