Crown Holdings, Inc. (NYSE:CCK) Declares Dividend Increase – $0.26 Per Share

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 dividend 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 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 Down 0.2 %

NYSE CCK traded down $0.20 on Thursday, reaching $87.86. 1,040,330 shares of the stock traded hands, compared to its average volume of 1,340,663. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The company has a fifty day moving average price of $85.41 and a 200-day moving average price of $89.48. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.56 and a beta of 0.87. Crown has a 12 month low of $70.84 and a 12 month high of $98.46.

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

Analysts Set New Price Targets

Several equities research analysts have commented on CCK shares. Barclays cut their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada upped their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. UBS Group lowered their price objective on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.