Crown Holdings, Inc. (NYSE:CCK) Given Consensus Recommendation of “Buy” by Analysts

Crown Holdings, Inc. (NYSE:CCKGet Rating) has received a consensus rating of “Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $142.00.

CCK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Crown from $136.00 to $142.00 in a report on Friday, February 11th. Zacks Investment Research downgraded Crown from a “buy” rating to a “hold” rating and set a $127.00 target price on the stock. in a report on Tuesday, April 12th. StockNews.com initiated coverage on Crown in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company increased their target price on Crown from $132.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, April 13th. Finally, Citigroup increased their target price on Crown from $143.00 to $151.00 in a report on Friday, April 8th.

CCK traded up $0.03 on Friday, reaching $101.08. The company’s stock had a trading volume of 1,432,948 shares, compared to its average volume of 1,453,242. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of -22.61, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. Crown has a 1 year low of $95.27 and a 1 year high of $130.42. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.99 and a quick ratio of 0.59. The business’s 50 day moving average is $117.12 and its 200 day moving average is $113.94.

Crown (NYSE:CCKGet Rating) last issued its quarterly earnings results on Monday, April 25th. The industrial products company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.19. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $2.94 billion. Crown had a positive return on equity of 39.60% and a negative net margin of 4.63%. Crown’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.83 earnings per share. As a group, research analysts forecast that Crown will post 8.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 26th. Investors of record on Thursday, May 12th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, May 11th. Crown’s dividend payout ratio is currently -19.69%.

In related news, insider Hock Huat Goh sold 5,623 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $124.92, for a total value of $702,425.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 13,370 shares of company stock worth $1,642,601. 1.80% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Crown by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 11,764,656 shares of the industrial products company’s stock worth $1,471,641,000 after acquiring an additional 143,049 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Crown by 1.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,001,191 shares of the industrial products company’s stock worth $806,360,000 after acquiring an additional 141,177 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Crown by 0.3% in the 1st quarter. BlackRock Inc. now owns 6,247,257 shares of the industrial products company’s stock worth $781,469,000 after acquiring an additional 16,457 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Crown by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 3,174,194 shares of the industrial products company’s stock worth $351,129,000 after acquiring an additional 47,817 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Crown by 1.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,579,606 shares of the industrial products company’s stock worth $322,683,000 after acquiring an additional 31,942 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

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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Analyst Recommendations for Crown (NYSE:CCK)

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