Crown Holdings, Inc. (NYSE:CCK) Increases Dividend to $0.26 Per Share

Crown Holdings, Inc. (NYSE:CCK) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Tuesday, March 18th will be given 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 a boost from Crown’s previous quarterly dividend of $0.25.

Crown has raised its dividend payment by an average of 7.7% per year over the last three years. Crown has a payout ratio of 13.4% meaning 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 Stock Down 0.2 %

Shares of CCK opened at $87.86 on Friday. The firm has a market cap of $10.51 billion, a P/E ratio of 24.68, a PEG ratio of 1.56 and a beta of 0.87. Crown has a 12 month low of $70.84 and a 12 month high of $98.46. The stock’s 50 day moving average is $85.41 and its two-hundred day moving average is $89.48. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Analysts predict that Crown will post 6.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCK has been the topic of several research reports. Royal Bank of Canada raised their target price on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price objective on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. UBS Group dropped their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho decreased their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup upped their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.69.

About Crown

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.