Crown Holdings Downgraded to Neutral at Macquarie (CCK)
Crown Holdings (NYSE:CCK) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of Crown Holdings (NYSE:CCK) traded down 3.30% on Monday, hitting $43.13. 2,299,675 shares of the company’s stock traded hands. Crown Holdings has a 1-year low of $37.00 and a 1-year high of $45.40. The stock’s 50-day moving average is $43.89 and its 200-day moving average is $43.30. The company has a market cap of $5.943 billion and a price-to-earnings ratio of 20.92.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.08 by $0.05. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company posted $1.00 earnings per share. Crown Holdings’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Crown Holdings will post $3.08 EPS for the current fiscal year.
A number of other firms have also recently commented on CCK. Analysts at JPMorgan Chase & Co. upgraded shares of Crown Holdings from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, January 8th. They now have a $52.00 price target on the stock, up previously from $45.00. Separately, analysts at Zacks upgraded shares of Crown Holdings from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, November 7th. They now have a $44.20 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Crown Holdings from $49.00 to $51.00 in a research note to investors on Monday, November 4th. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.60.
Crown Holdings, Inc is engaged in designing, manufacturing and sale of packaging products for consumer goods.
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