Weekly Analysts’ Ratings Changes for Crown (CCK)

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

  • 2/8/2019 – Crown was given a new $60.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 2/7/2019 – Crown had its “hold” rating reaffirmed by analysts at KeyCorp. They wrote, “We expect CCK to continue to hit its cash flow targets but also to struggle to grow organic EBIT, particularly as the global economy continues to slow. We expect flat organic EBIT in 2019 even with N.A. beverage can price increases. We think CCK is a stable business that generates reasonably predictable results, but the valuation should reflect limited growth. We are reducing our 2019 adj. EPS estimate from $5.51 to $5.32 (guidance is $5.20- $5.40); we were below consensus for 2019 coming into the release, and the Company indeed guided below consensus (on pension and FX). Our 2019 adj. EBIT estimate is coming down by 2% following the 4Q miss, and results in flat organic EBIT following a year in which organic EBIT declined by 4%; we think flat organic EBIT is an appropriate assumption given the Company’s difficulty growing EBIT in years past.””
  • 1/29/2019 – Crown was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Crown Holdings projects fourth-quarter 2018 earnings per share between 97 cents and $1.20. Crown Holdings' results in the fourth quarter will be impacted by damages caused by hurricanes Florence and Michael. Its performance will be hurt by elevated freight costs in North America and negative impact of foreign currency-translation. The company will also bear the brunt of fluctuations in the price of raw materials due to tariffs. High level of indebtedness and substantial competition also remain matter of concerns. Moreover, its shares have underperformed the industry over the past year.”
  • 1/24/2019 – Crown was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/23/2019 – Crown was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Crown Holdings projects fourth-quarter 2018 earnings per share between 97 cents and $1.20. Crown Holdings' results in the fourth quarter will be impacted by damages caused by hurricanes Florence and Michael. Its performance will be hurt by elevated freight costs in North America and negative impact of foreign currency-translation. The company will also bear the brunt of fluctuations in the price of raw materials due to tariffs. High level of indebtedness and substantial competition also remain matter of concerns. Moreover, its shares have underperformed the industry over the past year.”
  • 1/17/2019 – Crown was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Crown Holdings projects fourth-quarter 2018 earnings per share between 97 cents and $1.20, reflecting year-over-year growth of around 37% at the mid-point. It expects to benefit from strong global beverage can demand and focus on growth strategies and investments. Crown Holdings will manage elevated inventory levels in the European Food segment by realigning production schedules and reducing production. The company will also gain from geographic expansion, focus on cost control and disciplined pricing actions. However, Crown Holdings’ results will likely bear the brunt of hurricanes, elevated raw material and freight costs, negative impact of foreign currency-translation and high level of indebtedness. Moreover, its shares have underperformed the industry over the past year.”
  • 1/16/2019 – Crown is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $49.00 price target on the stock.
  • 1/11/2019 – Crown was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Crown Holdings projects fourth-quarter 2018 earnings per share between 97 cents and $1.20, reflecting year-over-year growth of around 37% at the mid-point. It expects to benefit from strong global beverage can demand and focus on growth strategies and investments. Crown Holdings will manage elevated inventory levels in the European Food segment by realigning production schedules and reducing production. The company will also gain from geographic expansion, focus on cost control and disciplined pricing actions. However, Crown Holdings’ results will likely bear the brunt of hurricanes, elevated raw material and freight costs, negative impact of foreign currency-translation and high level of indebtedness. Moreover, its shares have underperformed the industry over the past year.”
  • 1/7/2019 – Crown had its price target lowered by analysts at Citigroup Inc from $60.00 to $54.00. They now have a “buy” rating on the stock.
  • 1/3/2019 – Crown was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating.
  • 12/31/2018 – Crown was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Crown Holdings projects fourth-quarter 2018 earnings per share between 97 cents and $1.20. Crown Holdings’ results will likely bear the brunt of hurricanes, elevated raw material and freight costs, negative impact of foreign currency-translation and high level of indebtedness. Moreover, its shares have underperformed the industry over the past year.”

Shares of Crown stock traded up $0.52 on Monday, reaching $53.30. 129,163 shares of the company were exchanged, compared to its average volume of 1,682,499. Crown Holdings, Inc. has a 1-year low of $39.05 and a 1-year high of $54.10. The company has a market cap of $7.14 billion, a PE ratio of 10.25, a P/E/G ratio of 1.42 and a beta of 1.67. The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.68 and a current ratio of 1.14.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 6th. The industrial products company reported $1.00 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.00. Crown had a return on equity of 58.67% and a net margin of 3.94%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.3 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new position in shares of Crown during the fourth quarter valued at $30,000. IFP Advisors Inc lifted its holdings in shares of Crown by 358.7% during the fourth quarter. IFP Advisors Inc now owns 899 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 703 shares during the period. Private Capital Group LLC lifted its holdings in shares of Crown by 43.4% during the fourth quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 300 shares during the period. First Hawaiian Bank acquired a new position in shares of Crown during the fourth quarter worth $42,000. Finally, Cerebellum GP LLC acquired a new position in shares of Crown during the fourth quarter worth $81,000.

Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.

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