Crown (NYSE:CCK – Get Rating) updated its FY22 earnings guidance on Monday. The company provided EPS guidance of $8.00-8.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.14. Crown also updated its FY 2022 guidance to $8.000-$8.200 EPS.
A number of brokerages have issued reports on CCK. Deutsche Bank Aktiengesellschaft raised their price target on Crown from $136.00 to $142.00 in a research note on Friday, February 11th. Zacks Investment Research lowered Crown from a buy rating to a hold rating and set a $127.00 price objective on the stock. in a research note on Tuesday, April 12th. StockNews.com started coverage on Crown in a research note on Thursday, March 31st. They issued a hold rating on the stock. TheStreet cut Crown from a b+ rating to a c+ rating in a report on Friday, February 11th. Finally, BMO Capital Markets upgraded Crown from a market perform rating to an outperform rating and upped their price target for the stock from $110.00 to $140.00 in a report on Thursday, February 10th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $143.08.
Shares of CCK stock traded down $2.75 on Monday, hitting $116.61. 1,172,837 shares of the stock traded hands, compared to its average volume of 1,194,514. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.09 and a quick ratio of 0.67. The company has a market capitalization of $14.41 billion, a PE ratio of -25.13, a PEG ratio of 2.98 and a beta of 1.09. Crown has a 1-year low of $95.27 and a 1-year high of $130.42. The company’s fifty day moving average is $122.95 and its 200 day moving average is $113.76.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 10th were given a $0.22 dividend. The ex-dividend date was Wednesday, March 9th. This is a positive change from Crown’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.75%. Crown’s dividend payout ratio (DPR) is currently -18.97%.
In related news, insider Hock Huat Goh sold 5,623 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $124.92, for a total transaction of $702,425.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Conway sold 336 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $123.54, for a total value of $41,509.44. The disclosure for this sale can be found here. In the last three months, insiders sold 13,706 shares of company stock valued at $1,684,110. Company insiders own 1.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Crown in the 4th quarter valued at $540,000. Forum Financial Management LP acquired a new position in shares of Crown in the 4th quarter valued at $231,000. Comerica Bank boosted its position in shares of Crown by 5.6% in the 4th quarter. Comerica Bank now owns 16,568 shares of the industrial products company’s stock valued at $1,777,000 after purchasing an additional 880 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Crown in the 4th quarter valued at $234,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Crown in the 4th quarter valued at $55,000. 88.01% of the stock is owned by institutional investors and hedge funds.
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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