Crown Holdings, Inc. (CCK) to Issue Quarterly Dividend of $0.25 on June 27th

Crown Holdings, Inc. (NYSE:CCK) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Thursday, June 13th will be paid a dividend of 0.25 per share by the industrial products company on Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, June 13th.

Crown has a payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Crown to earn $6.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.2%.

Crown Trading Up 0.1 %

NYSE:CCK opened at $82.47 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Crown has a one year low of $69.61 and a one year high of $96.35. The business has a fifty day moving average price of $78.16 and a 200-day moving average price of $82.63.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 23.95% and a net margin of 3.51%. Crown’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. Sell-side analysts forecast that Crown will post 5.9 EPS for the current year.

Wall Street Analysts Forecast Growth

CCK has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada lowered their target price on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. UBS Group initiated coverage on shares of Crown in a research report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price target on the stock. Finally, Mizuho lowered their price objective on shares of Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus price target of $99.29.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the completion of the transaction, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

About Crown

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.