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

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 dividend yield of 1.16%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Crown’s previous quarterly dividend of $0.25.

Crown has increased its dividend 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 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 Performance

Shares of CCK stock opened at $89.59 on Friday. The company’s fifty day simple moving average is $85.52 and its 200-day simple moving average is $89.47. Crown has a 52 week low of $70.84 and a 52 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. The company has a market cap of $10.72 billion, a PE ratio of 25.17, a P/E/G ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 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%. As a group, equities research analysts anticipate that Crown will post 6.96 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on CCK shares. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Mizuho dropped 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. UBS Group dropped their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Bank of America dropped their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently 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.