Royal Bank Of Canada initiated coverage on shares of Crown Holdings Inc. (NYSE:CCK) in a research report released on Friday morning. The firm issued an outperform rating and a $65.00 price target on the stock.
Other equities analysts also recently issued research reports about the company. Deutsche Bank AG set a $55.00 target price on Crown Holdings and gave the company a hold rating in a report on Sunday, July 24th. Zacks Investment Research downgraded Crown Holdings from a buy rating to a hold rating in a report on Monday, June 27th. BMO Capital Markets upgraded Crown Holdings from a market perform rating to an outperform rating and upped their target price for the company from $56.00 to $65.00 in a report on Monday, September 26th. They noted that the move was a valuation call. Credit Suisse Group AG set a $58.00 target price on Crown Holdings and gave the company a hold rating in a report on Tuesday, July 19th. Finally, Barclays PLC upped their target price on Crown Holdings from $62.00 to $64.00 and gave the company an overweight rating in a report on Monday, July 25th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Crown Holdings presently has an average rating of Buy and a consensus price target of $60.38.
Shares of Crown Holdings (NYSE:CCK) opened at 57.09 on Friday. Crown Holdings has a 1-year low of $43.30 and a 1-year high of $57.46. The stock’s 50 day moving average is $54.50 and its 200-day moving average is $52.60. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 17.51 and a beta of 1.32.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.24 billion. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, analysts anticipate that Crown Holdings will post $3.93 EPS for the current year.
Several large investors have recently bought and sold shares of CCK. Bessemer Group Inc. acquired a new stake in Crown Holdings during the second quarter valued at $139,000. Tower Research Capital LLC TRC acquired a new stake in Crown Holdings during the second quarter valued at $146,000. Point72 Asia Hong Kong Ltd boosted its stake in Crown Holdings by 89.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,917 shares of the company’s stock valued at $148,000 after buying an additional 1,381 shares in the last quarter. First Manhattan Co. boosted its stake in Crown Holdings by 2.9% in the second quarter. First Manhattan Co. now owns 3,089 shares of the company’s stock valued at $156,000 after buying an additional 88 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Crown Holdings during the second quarter valued at $213,000. 88.81% of the stock is owned by institutional investors.
Crown Holdings Company Profile
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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