Crown (NYSE:CCK) Hits New 52-Week Low at $84.85

Crown Holdings, Inc. (NYSE:CCKGet Rating) shares reached a new 52-week low on Thursday . The company traded as low as $84.85 and last traded at $85.58, with a volume of 28819 shares. The stock had previously closed at $87.64.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown from $137.00 to $135.00 in a research note on Tuesday, July 19th. Truist Financial decreased their target price on shares of Crown from $147.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Wells Fargo & Company reduced their price target on shares of Crown from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Robert W. Baird reduced their price target on shares of Crown from $165.00 to $130.00 in a research report on Friday, July 22nd. Finally, Citigroup reduced their price target on shares of Crown from $130.00 to $126.00 in a research report on Friday, July 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.70.

Crown Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 2.50. The company’s fifty day moving average is $95.34 and its two-hundred day moving average is $104.42. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of -29.12, a P/E/G ratio of 2.34 and a beta of 1.15.

Crown (NYSE:CCKGet Rating) last posted its earnings results on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.07. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.20 billion. Crown had a negative net margin of 3.07% and a positive return on equity of 40.47%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, research analysts predict that Crown Holdings, Inc. will post 7.75 earnings per share for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.04%. Crown’s dividend payout ratio (DPR) is -29.43%.

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 500 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $93.90, for a total value of $46,950.00. Following the completion of the transaction, the vice president now owns 4,894 shares in the company, valued at $459,546.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Crown

Several institutional investors have recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Crown in the first quarter valued at $27,000. Quent Capital LLC lifted its position in Crown by 92.7% in the first quarter. Quent Capital LLC now owns 237 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 114 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Crown by 187.6% in the first quarter. Meeder Asset Management Inc. now owns 302 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 197 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in Crown in the second quarter valued at $39,000. Finally, Arlington Partners LLC purchased a new stake in Crown in the second quarter valued at $43,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

About Crown

(Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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