Crown Holdings Rating Reiterated by Macquarie (CCK)
Crown Holdings (NYSE:CCK)‘s stock had its “neutral” rating reiterated by investment analysts at Macquarie in a note issued to investors on Wednesday. They currently have a $55.00 price objective on the stock, up from their previous price objective of $53.00. Macquarie’s price objective indicates a potential upside of 9.74% from the company’s current price.
A number of other analysts have also recently weighed in on CCK. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Crown Holdings in a research note on Wednesday, July 30th. They now have a $56.00 price target on the stock, down previously from $58.00. Separately, analysts at Jefferies Group cut their price target on shares of Crown Holdings from $60.00 to $58.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Crown Holdings from $52.00 to $58.00 in a research note on Wednesday, July 23rd. They now have an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $55.25.
Shares of Crown Holdings (NYSE:CCK) traded up 0.30% during mid-day trading on Wednesday, hitting $50.27. The stock had a trading volume of 438,298 shares. Crown Holdings has a 52 week low of $37.29 and a 52 week high of $51.56. The stock’s 50-day moving average is $47.68 and its 200-day moving average is $47.2. The company has a market cap of $6.897 billion and a P/E ratio of 24.71.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings data on Monday, July 21st. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts predict that Crown Holdings will post $3.35 earnings per share for the current fiscal year.
Crown Holdings, Inc is engaged in designing, manufacturing and sale of packaging products for consumer goods.
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