Crown Holdings, Inc. (CCK) to Issue Quarterly Dividend of $0.26 on April 1st

Crown Holdings, Inc. (NYSE:CCK) declared 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 1.16%. The ex-dividend date is Tuesday, March 18th. 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% annually over the last three years. Crown has a 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 Up 1.9 %

Shares of Crown stock opened at $89.59 on Friday. Crown has a 12-month low of $70.84 and a 12-month 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. The stock has a market cap of $10.72 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. The company has a 50-day moving average of $85.52 and a two-hundred day moving average of $89.47.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays dropped their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. UBS Group dropped their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada raised their price objective 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. Finally, Wells Fargo & Company raised their price objective on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.