Crown Holdings, Inc. (NYSE:CCK) Stock Has Consensus Target Price of $128.47

Key Points

• Analysts maintain a “Moderate Buy” consensus on Crown Holdings, with 12 buy ratings and five holds among 17 brokerages. The average 12-month price target is $128.47, above the reported stock price of $119.30.
• Crown exceeded quarterly expectations, reporting earnings per share of $2.39 versus the $2.26 consensus estimate and revenue of $3.71 billion, up 15.9% year over year.
• The company announced a quarterly dividend of $0.35 per share, equating to an annualized payout of $1.40 and a 1.2% yield. Institutional investors own approximately 90.93% of Crown’s stock.

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $128.47.

Several brokerages recently commented on CCK. Royal Bank Of Canada raised their target price on Crown from $131.00 to $135.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. JPMorgan Chase & Co. raised shares of Crown from a "neutral" rating to an "overweight" rating and set a $121.00 price objective for the company in a report on Friday, September 18th. Raymond James Financial lifted their target price on shares of Crown from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. UBS Group upped their target price on shares of Crown from $116.00 to $118.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. Finally, Bank of America increased their price target on shares of Crown from $129.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Community Bank N.A. acquired a new position in Crown in the second quarter valued at about $32,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Crown in the third quarter worth about $32,000. Elevation Wealth Partners LLC raised its position in shares of Crown by 628.8% during the second quarter. Elevation Wealth Partners LLC now owns 481 shares of the industrial products company's stock worth $54,000 after purchasing an additional 415 shares during the period. Ballast Advisors LLC acquired a new stake in shares of Crown during the first quarter worth about $57,000. Finally, Provenance Wealth Advisors LLC bought a new position in shares of Crown during the 3rd quarter valued at about $73,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Stock Up 0.9%

Crown stock opened at $119.30 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. Crown has a 1-year low of $91.31 and a 1-year high of $122.91. The firm's fifty day simple moving average is $112.79 and its 200-day simple moving average is $108.45. The company has a market capitalization of $12.89 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.49 and a beta of 0.56.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.13. Crown had a net margin of 5.78% and a return on equity of 27.41%. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.45 billion. During the same period in the previous year, the company earned $2.24 earnings per share. Crown's revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Crown will post 8.41 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, November 5th. Crown's dividend payout ratio is presently 19.50%.

Crown Company Profile

Crown Holdings, Inc NYSE: CCK is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown's products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.

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