Crown Holdings, Inc. (NYSE:CCK) Receives $99.21 Average PT from Analysts

Crown Holdings, Inc. (NYSE:CCK) has received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $99.21.

Several analysts recently issued reports on CCK shares. Morgan Stanley began coverage on shares of Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. UBS Group began coverage on shares of Crown in a research note on Tuesday, January 16th. They set a “buy” rating and a $112.00 target price on the stock. Truist Financial reissued a “hold” rating and issued a $88.00 price objective (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada decreased their price target on shares of 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Crown during the fourth quarter worth $109,826,000. Clearbridge Investments LLC raised its holdings in Crown by 474.8% during the 4th quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after purchasing an additional 1,003,312 shares during the last quarter. Boston Partners acquired a new position in shares of Crown during the 4th quarter worth about $84,960,000. Toronto Dominion Bank grew its position in shares of Crown by 41.9% during the 3rd quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after buying an additional 654,082 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Crown by 46.7% in the 3rd quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock valued at $125,449,000 after purchasing an additional 450,087 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Price Performance

Shares of CCK opened at $78.83 on Friday. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. Crown has a twelve month low of $69.61 and a twelve month high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The company has a 50 day moving average of $77.00 and a two-hundred day moving average of $82.68.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, analysts predict that Crown will post 5.9 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio is 26.60%.

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.