Crown Holdings, Inc. (NYSE:CCK) declared a quarterly dividend on Thursday, April 22nd, RTT News reports. Shareholders of record on Thursday, May 6th will be given a dividend of 0.20 per share by the industrial products company on Thursday, May 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.75%.
Crown stock opened at $107.17 on Friday. The firm has a market cap of $14.46 billion, a PE ratio of 28.06, a P/E/G ratio of 2.99 and a beta of 1.14. Crown has a 12 month low of $55.85 and a 12 month high of $111.67. The stock’s 50 day simple moving average is $100.33 and its two-hundred day simple moving average is $95.67. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 3.47.
Crown (NYSE:CCK) last posted its earnings results on Sunday, April 18th. The industrial products company reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.44. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Crown had a return on equity of 33.90% and a net margin of 4.52%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. On average, equities research analysts forecast that Crown will post 5.71 EPS for the current year.
Crown announced that its board has initiated a share repurchase plan on Thursday, February 25th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 11.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
CCK has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Crown from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on Crown from $122.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on Crown from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on shares of Crown in a research report on Thursday, April 15th. They issued a “neutral” rating and a $108.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $116.71.
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, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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