Crown Holdings, Inc. Declares Quarterly Dividend of $0.25 (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Thursday, June 13th will be given a dividend of 0.25 per share by the industrial products company on Thursday, June 27th. This represents a $1.00 annualized dividend and a yield of 1.21%.

Crown has a payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Crown to earn $6.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.2%.

Crown Price Performance

NYSE CCK traded down $0.69 during trading hours on Thursday, reaching $82.37. 1,007,197 shares of the stock traded hands, compared to its average volume of 1,253,167. The stock has a 50 day simple moving average of $77.94 and a two-hundred day simple moving average of $82.62. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.78 and a beta of 0.88.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a return on equity of 23.95% and a net margin of 3.51%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts predict that Crown will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley assumed coverage on Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price on the stock. UBS Group assumed coverage on Crown in a research report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective on the stock. Royal Bank of Canada cut their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Finally, Wells Fargo & Company lifted their price objective on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.