Crown Holdings, Inc. (NYSE:CCK) to Issue Quarterly Dividend of $0.26

Crown Holdings, Inc. (NYSE:CCK) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Investors 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% annually over the last three years. Crown has a dividend payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 CCK traded down $0.20 during mid-day trading on Thursday, reaching $87.86. The company had a trading volume of 1,040,330 shares, compared to its average volume of 1,340,663. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. The firm has a fifty day simple moving average of $85.41 and a 200-day simple moving average of $89.48. Crown has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. 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 released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (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%. On average, sell-side analysts anticipate that Crown will post 6.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CCK shares. Royal Bank of Canada upped their price target on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays cut their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Truist Financial boosted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Mizuho decreased their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus 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.