Brokerages Set Crown Holdings, Inc. (NYSE:CCK) PT at $106.00

Shares of Crown Holdings, Inc. (NYSE:CCK) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $106.00.

Several equities analysts have issued reports on CCK shares. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada increased their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup increased their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th.

Institutional Investors Weigh In On Crown

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after buying an additional 256 shares in the last quarter. Covestor Ltd increased its holdings in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Brooklyn Investment Group purchased a new position in Crown in the third quarter valued at about $44,000. GAMMA Investing LLC increased its holdings in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

NYSE:CCK opened at $89.01 on Tuesday. The firm has a market capitalization of $10.46 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The business’s fifty day moving average price is $86.91 and its 200 day moving average price is $89.53. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. Crown has a 12 month low of $70.84 and a 12 month high of $98.46.

Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, sell-side analysts anticipate that Crown will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.26 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.17%. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is presently 29.21%.

Crown Company Profile

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.