Several brokerages have updated their recommendations and price targets on shares of Crown Holdings (NYSE: CCK) in the last few weeks:

  • 10/3/2017 – Crown Holdings was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “To meet growing beverage can demand, Crown Holdings intends to build new facilities and is poised to gain from the geographic expansion of its beverage can lines. Additionally, it is poised to gain from potential strategic acquisitions in geographic areas and product lines. Year-to-date, Crown Holdings has outperformed the industry. The company has a positive record of earnings surprises in the last few quarters. However, volumes will be impacted in the Middle East by the ongoing conflicts in the region and introduction of beverage taxes in Saudi Arabia. Further, weak global food and aerosol can volumes, mature North American food can and closure markets, pricing pressure in China remain concerns.”
  • 10/3/2017 – Crown Holdings had its “hold” rating reaffirmed by analysts at KeyCorp. They wrote, “We are modestly increasing our 2017 adj. EPS estimate for Crown Holdings (CCK) on account of the recent strength in the euro. CCK assumed a euro rate of $1.14 for 2H17, and in 3Q17, the euro averaged $1.17. Consequently, CCK will have close to a $0.01 FX benefit relative to its guidance in 3Q17, and would have a comparable benefit in 4Q17 assuming the euro remains at $1.17-$1.18. Consequently, we are raising our 2017 estimate by $0.02 to $4.04 (guidance is $3.90-$4.05, and consensus is $4.03). Key Investment Points Aside from FX, we assume CCK experienced continued strength in SE Asia and Continental Europe, and we expect another solid earnings report partly as a result. Items to watch for include the Middle East (specifically Saudi Arabia, which was a source of weakness in 2Q17), continued weakness in the U.S.””
  • 10/2/2017 – Crown Holdings was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $67.00 price target on the stock. According to Zacks, “Crown Holdings projects 2017 adjusted diluted earnings per share in the range of $3.90–$4.05. Adjusted diluted earnings per share for the third quarter are projected in the range of $1.35–$1.45. To meet growing beverage can demand, the company intends to build new facilities and is poised to gain from the geographic expansion of its beverage can lines. Additionally, it is poised to gain from potential strategic acquisitions in geographic areas and product lines. Year-to-date, Crown Holdings has outperformed the industry. The company has a positive record of earnings surprises in the last few quarters.”
  • 9/26/2017 – Crown Holdings was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “To meet growing beverage can demand, Crown Holdings intends to build new facilities and is poised to gain from the geographic expansion of its beverage can lines. Additionally, it is poised to gain from potential strategic acquisitions in geographic areas and product lines. In the past year, Crown Holdings has outperformed the industry. The company has a positive record of earnings surprises in the last few quarters. However, volumes will be impacted in the Middle East by the ongoing conflicts in the region and introduction of beverage taxes in Saudi Arabia. Further, weak global food and aerosol can volumes, mature North American food can and closure markets, pricing pressure in China remain concerns.”
  • 9/21/2017 – Crown Holdings was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $68.00 price target on the stock. According to Zacks, “Crown Holdings projects 2017 adjusted diluted earnings per share in the range of $3.90–$4.05. Adjusted diluted earnings per share for the third quarter are projected in the range of $1.35–$1.45. To meet growing beverage can demand, the company intends to build new facilities and is poised to gain from the geographic expansion of its beverage can lines. Additionally, it is poised to gain from potential strategic acquisitions in geographic areas and product lines. In the past year, Crown Holdings has outperformed the industry. The company has a positive record of earnings surprises in the last few quarters.”
  • 9/4/2017 – Crown Holdings had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $65.00 price target on the stock.
  • 8/28/2017 – Crown Holdings was given a new $70.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.

Crown Holdings, Inc. (NYSE:CCK) opened at 59.96 on Wednesday. Crown Holdings, Inc. has a 52-week low of $51.57 and a 52-week high of $61.39. The stock has a 50 day moving average price of $59.13 and a 200 day moving average price of $57.54. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 17.18 and a beta of 1.40.

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 consensus estimate of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts expect that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.

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.

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