A number of firms have modified their ratings and price targets on shares of Crown Holdings (NYSE: CCK) recently:

  • 8/1/2017 – Crown Holdings was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Crown Holdings projects 2017 adjusted diluted earnings per share in the range of $3.90–$4.05. Adjusted diluted earnings per share for the third quarter are projected in the range of $1.35–$1.45. 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. Over the past six months, Crown Holdings has outperformed the industry. However, volumes will be impacted in the Middle East by the ongoing conflicts in the region and introduction of beverage taxes in Saudi Arabia. Further, weak global food and aerosol can volumes, mature North American food can and closure markets, pricing pressure in China remain concerns.”
  • 7/31/2017 – Crown Holdings was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 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.”

Shares of Crown Holdings, Inc. (NYSE CCK) opened at 58.14 on Friday. The company has a 50 day moving average of $59.41 and a 200 day moving average of $55.99. Crown Holdings, Inc. has a 1-year low of $51.57 and a 1-year high of $60.96. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 16.65 and a beta of 1.39.

Crown Holdings (NYSE:CCK) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that Crown Holdings, Inc. will post $4.03 earnings per share for the current fiscal year.

In other news, VP David A. Beaver sold 1,000 shares of the stock in a transaction on Friday, May 19th. The shares were 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 owns 2,398 shares of the company’s stock, valued at $134,407.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate 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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