Crown Holdings, Inc. (NYSE:CCK) Declares Dividend Increase – $0.26 Per Share

Crown Holdings, Inc. (NYSE:CCK) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.26 per share by the industrial products company on Tuesday, April 1st. This represents a $1.04 dividend on an annualized basis and a yield of 1.18%. This is an increase from Crown’s previous quarterly dividend of $0.25.

Crown has raised its dividend by an average of 7.7% per year over the last three years. Crown has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Crown to earn $7.62 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 13.1%.

Crown Trading Down 0.2 %

Shares of NYSE CCK opened at $87.86 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $10.51 billion, a PE ratio of 24.68, a PEG ratio of 1.56 and a beta of 0.87. Crown has a twelve month low of $70.84 and a twelve month high of $98.46. The stock has a fifty day simple moving average of $85.41 and a 200-day simple moving average of $89.48.

Crown (NYSE:CCK) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, equities analysts forecast that Crown will post 6.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group decreased their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America decreased their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays cut their price target on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Royal Bank of Canada lifted their price objective on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Mizuho reduced their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.69.

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.