Crown Holdings, Inc. (NYSE:CCK) Given “Hold” Rating at KeyCorp
Crown Holdings, Inc. (NYSE:CCK)‘s stock had its “hold” rating reiterated by stock analysts at KeyCorp in a research note issued on Thursday.
The analysts wrote, “We are increasing our 2017 adj. EPS estimate from $3.95 to $4.02 (guidance is $3.90- $4.05) on account of fewer shares outstanding, lower interest expense, lower D&A expense, and better operations; we had already incorporated a $1.14 euro rate into our estimates two weeks ago. Of CCK’s $0.07-$0.08 guidance increase, $0.03-$0.04 was FX, ~$0.02 was lower interest expense, and the rest was better operations. CCK did not increase its FCF guidance on account of a one-time payment, which offset the boost to net income guidance. Consequently, we are maintaining our 2017 FCF estimate of $365 million, which is lower than CCK’s guidance of $425 million because we are deducting dividends to minority interests (which the Company does not). For perspective, dividends to minorities in 1H17 were $37 million. We are assuming flat FCF in 2018 because we expect capex to be the same as in 2017 ($450 million). Our 2018 adj.””
Several other research analysts have also weighed in on CCK. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 target price (up previously from $63.00) on shares of Crown Holdings in a research note on Friday, July 14th. BidaskClub lowered shares of Crown Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Deutsche Bank AG reaffirmed a “hold” rating and set a $61.00 target price (up previously from $58.00) on shares of Crown Holdings in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of Crown Holdings in a research note on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Crown Holdings currently has a consensus rating of “Buy” and a consensus price target of $63.44.
Crown Holdings (NYSE CCK) traded down 1.27% during trading on Thursday, hitting $59.85. 1,462,087 shares of the company were exchanged. The stock’s 50-day moving average is $58.73 and its 200-day moving average is $55.40. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 15.92 and a beta of 1.40. Crown Holdings has a 12 month low of $51.57 and a 12 month high of $60.96.
Crown Holdings (NYSE:CCK) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.15 billion. Crown Holdings had a net margin of 6.32% and a return on equity of 75.25%. Crown Holdings’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. Equities research analysts anticipate that Crown Holdings will post $3.97 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This article was first posted by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2017/07/20/crown-holdings-inc-nysecck-given-hold-rating-at-keycorp.html.
In related news, Director Jenne K. Britell sold 4,525 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $55.65, for a total value of $251,816.25. Following the sale, the director now owns 50,038 shares of the company’s stock, valued at $2,784,614.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David A. Beaver sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $56.05, for a total transaction of $56,050.00. Following the completion of the sale, the vice president now directly owns 2,398 shares in the company, valued at approximately $134,407.90. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of CCK. Vanguard Group Inc. boosted its stake in shares of Crown Holdings by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,951,527 shares of the industrial products company’s stock valued at $632,833,000 after buying an additional 453,693 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Crown Holdings by 11.9% in the first quarter. Lazard Asset Management LLC now owns 9,406,168 shares of the industrial products company’s stock valued at $498,056,000 after buying an additional 997,113 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Crown Holdings by 3.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,079,572 shares of the industrial products company’s stock valued at $480,762,000 after buying an additional 338,416 shares during the period. BlackRock Inc. boosted its stake in shares of Crown Holdings by 5,730.2% in the first quarter. BlackRock Inc. now owns 8,156,399 shares of the industrial products company’s stock valued at $431,880,000 after buying an additional 8,016,500 shares during the period. Finally, Boston Partners boosted its stake in shares of Crown Holdings by 17.3% in the first quarter. Boston Partners now owns 5,496,044 shares of the industrial products company’s stock valued at $291,016,000 after buying an additional 810,314 shares during the period. 91.85% of the stock is currently owned by hedge funds and other institutional investors.
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.