Crown Holdings, Inc. (NYSE:CCK) Receives $99.21 Average Target Price from Brokerages

Crown Holdings, Inc. (NYSE:CCK) has been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $99.21.

CCK has been the subject of several recent research reports. Morgan Stanley began coverage on Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. Truist Financial reaffirmed a “hold” rating and issued a $88.00 target price (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Mizuho cut their price target on shares of Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. UBS Group assumed coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective for the company. Finally, Royal Bank of Canada decreased their price target on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th.

Hedge Funds Weigh In On Crown

Hedge funds have recently added to or reduced their stakes in the stock. BluePath Capital Management LLC acquired a new position in Crown during the third quarter valued at approximately $25,000. Sound Income Strategies LLC bought a new stake in shares of Crown during the 4th quarter worth $26,000. Rise Advisors LLC acquired a new stake in Crown in the first quarter valued at about $27,000. Quest Partners LLC bought a new position in Crown in the fourth quarter valued at about $34,000. Finally, Mather Group LLC. acquired a new position in Crown during the first quarter worth about $32,000. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

Shares of CCK opened at $79.42 on Friday. The stock has a 50 day simple moving average of $76.82 and a 200 day simple moving average of $82.75. Crown has a 52-week low of $69.61 and a 52-week high of $96.35. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The firm has a market capitalization of $9.59 billion, a PE ratio of 21.12, a P/E/G ratio of 2.63 and a beta of 0.91.

Crown (NYSE:CCK) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). The company had revenue of $2.86 billion for 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 firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 EPS. Sell-side analysts predict that Crown will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Wednesday, March 13th. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio is presently 26.60%.

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.