StockNews.com Begins Coverage on Crown (NYSE:CCK)

StockNews.com assumed coverage on shares of Crown (NYSE:CCK – Get Rating) in a research note released on Thursday. The brokerage issued a sell rating on the industrial products company’s stock.

CCK has been the subject of a number of other research reports. Wells Fargo & Company boosted their price objective on Crown from $80.00 to $86.00 and gave the company an equal weight rating in a research note on Thursday, February 9th. Barclays upped their price target on Crown from $90.00 to $95.00 and gave the stock an overweight rating in a research note on Monday, February 13th. TheStreet upgraded Crown from a c rating to a b- rating in a research note on Wednesday, February 8th. Citigroup upped their price target on Crown from $97.00 to $104.00 and gave the stock a buy rating in a research note on Friday, February 10th. Finally, UBS Group cut their price target on Crown from $105.00 to $90.00 and set a neutral rating for the company in a research note on Thursday, December 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $97.73.

Crown Price Performance

Shares of NYSE CCK opened at $76.66 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.67 and a debt-to-equity ratio of 2.97. Crown has a twelve month low of $66.00 and a twelve month high of $130.42. The stock has a 50 day moving average of $85.89 and a two-hundred day moving average of $83.75. The stock has a market cap of $9.21 billion, a P/E ratio of 12.84, a P/E/G ratio of 2.49 and a beta of 1.05.

Crown (NYSE:CCK – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The industrial products company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.10. Crown had a return on equity of 36.97% and a net margin of 5.62%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that Crown will post 6.27 earnings per share for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be issued a $0.24 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.96 annualized dividend and a yield of 1.25%. Crown’s dividend payout ratio is 16.08%.

Institutional Trading of Crown

Several large investors have recently bought and sold shares of CCK. Tobam acquired a new stake in Crown in the third quarter valued at $31,000. Montag A & Associates Inc. acquired a new stake in Crown in the fourth quarter valued at $33,000. Ronald Blue Trust Inc. acquired a new stake in Crown in the second quarter valued at $39,000. Harvest Fund Management Co. Ltd acquired a new stake in Crown in the fourth quarter valued at $40,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in Crown in the third quarter valued at $48,000.

Crown Company Profile

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Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.