Several brokerages have updated their recommendations and price targets on shares of Crown Holdings (NYSE: CCK) in the last few weeks:
- 7/24/2017 - 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 expects adjusted diluted earnings per share to lie in the range of $3.90–$4.05 in 2017. Compared with the $3.93 earned in fiscal 2016, the mid-point of the guidance reflects a 1% rise. Adjusted diluted earnings per share for the third quarter are projected in the range of $1.35–$1.45. Crown Holdings is expected to gain from a rise in global beverage can demand. Beverage can volume has generally continued to grow in emerging markets driven by increased per capita incomes and consumption. 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.”
- 7/24/2017 - Crown Holdings had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $69.00 price target on the stock, up previously from $63.00.
- 7/21/2017 - Crown Holdings was downgraded by analysts at Vertical Research from a “buy” rating to a “hold” rating. They now have a $64.00 price target on the stock, up previously from $60.00.
- 7/20/2017 - Crown Holdings had its “hold” rating reaffirmed by analysts at KeyCorp. They 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.””
- 7/18/2017 - Crown Holdings had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $61.00 price target on the stock, up previously from $58.00.
- 7/14/2017 - Crown Holdings had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $70.00 price target on the stock, up previously from $63.00.
- 7/13/2017 - Crown Holdings was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 7/12/2017 - Crown Holdings had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $62.00 price target on the stock.
- 7/10/2017 - 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' estimates have been going up lately. The company expects adjusted diluted earnings per share for the second quarter in the range of $1.05–$1.15 and for 2017 to be in the range of $3.80–$4.00. 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, the company will gain from potential strategic acquisitions in geographic areas and product lines. Further, the company has an impressive positive record of earnings surprises in the past few quarters. Its estimates have gone up lately.”
- 6/30/2017 - Crown Holdings was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 6/29/2017 - Crown Holdings was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 6/20/2017 - Crown Holdings was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 6/16/2017 - Crown Holdings was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Crown Holdings’ adjusted diluted earnings per share for the second quarter are projected in the range of $1.05–$1.15 and for 2017 is expected to be in the range of $3.80–$4.00. On a year over year basis, the mid point of the guidance range reflects an 8% and 1% drop for the second quarter and 2017 respcectively. The stock has underperformed the Zacks categorized sub industry in the past one year. Weak global food and aerosol can volumes, mature NA food can, closure markets, pricing pressure in China and stiff competition remain the primary headwinds for Crown Holdings. Nevertheless, it will benefit from ongoing investments in the company’s global beverage operations, potential strategic acquisitions in geographic areas and product lines. Its estimates have gone up in the last few days.”
- 6/10/2017 - Crown Holdings was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 6/10/2017 - Crown Holdings was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
- 6/6/2017 - Crown Holdings was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. According to Zacks, “Crown Holdings' estimates have been going up lately. The company expects adjusted diluted earnings per share for the second quarter in the range of $1.05–$1.15 and for 2017 to be in the range of $3.80–$4.00. 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, the company will gain from potential strategic acquisitions in geographic areas and product lines. Further, the company has an impressive positive record of earnings surprises in the past few quarters.”
- 6/5/2017 - Crown Holdings had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $62.00 price target on the stock.
Shares of Crown Holdings, Inc. (NYSE CCK) traded down 0.54% on Friday, reaching $58.89. The company had a trading volume of 778,291 shares. The firm has a market capitalization of $7.97 billion, a P/E ratio of 16.87 and a beta of 1.40. The company’s 50-day moving average price is $58.96 and its 200 day moving average price is $55.63. Crown Holdings, Inc. has a 52 week low of $51.57 and a 52 week high of $60.96.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Crown Holdings had a return on equity of 69.86% and a net margin of 5.81%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last 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, analysts expect that Crown Holdings, Inc. will post $4.03 EPS for the current year.
In other Crown Holdings news, VP David A. Beaver sold 1,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was 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 of the company’s stock, valued at approximately $134,407.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.
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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