Crown Holdings Inc. (CCK) Given Consensus Rating of “Buy” by Brokerages
Shares of Crown Holdings Inc. (NYSE:CCK) have received an average rating of “Buy” from the sixteen brokerages that are covering the firm. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $60.91.
A number of brokerages have weighed in on CCK. Deutsche Bank AG set a $55.00 price target on shares of Crown Holdings and gave the company a “hold” rating in a report on Sunday, July 24th. Barclays PLC boosted their price objective on Crown Holdings from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, July 25th. Jefferies Group boosted their price objective on Crown Holdings from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Zacks Investment Research upgraded Crown Holdings from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, RBC Capital Markets initiated coverage on Crown Holdings in a report on Thursday, September 29th. They set an “outperform” rating and a $65.00 price objective on the stock.
Shares of Crown Holdings (NYSE:CCK) traded up 1.80% on Wednesday, reaching $56.99. 633,156 shares of the company’s stock were exchanged. Crown Holdings has a 12 month low of $43.30 and a 12 month high of $57.49. The company has a market capitalization of $7.89 billion, a P/E ratio of 17.48 and a beta of 1.32. The firm’s 50 day moving average price is $55.13 and its 200-day moving average price is $53.18.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/crown-holdings-inc-cck-given-consensus-rating-of-buy-by-brokerages.html
Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The company earned $2.14 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $1.03 EPS. Crown Holdings’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Crown Holdings will post $3.93 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Crown Holdings by 16.9% in the first quarter. BlackRock Inc. now owns 114,955 shares of the company’s stock worth $5,701,000 after buying an additional 16,656 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Crown Holdings by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,666,751 shares of the company’s stock worth $181,834,000 after buying an additional 95,799 shares during the last quarter. BlackRock Japan Co. Ltd boosted its stake in shares of Crown Holdings by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 166,452 shares of the company’s stock worth $8,254,000 after buying an additional 1,870 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Crown Holdings during the first quarter worth about $1,062,000. Finally, M&T Bank Corp boosted its stake in shares of Crown Holdings by 14.3% in the first quarter. M&T Bank Corp now owns 10,909 shares of the company’s stock worth $540,000 after buying an additional 1,366 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
Receive News & Ratings for Crown Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.