Crown Holdings, Inc. (CCK) to Distribute Quarterly Dividend of $0.35 on November 19th

Crown Holdings, Inc. (NYSE:CCK) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.35 per share by the industrial products company on Thursday, November 19th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 5th.

Crown has a payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Crown to earn $9.17 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 15.3%.

Crown Stock Performance

NYSE:CCK opened at $117.34 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.14 and a quick ratio of 0.65. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.49 and a beta of 0.56. Crown has a 1 year low of $91.31 and a 1 year high of $122.91. The stock’s 50 day simple moving average is $112.72 and its two-hundred day simple moving average is $108.63.

Crown (NYSE:CCK) last posted its earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.13. Crown had a net margin of 5.78% and a return on equity of 27.41%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the firm posted $2.24 earnings per share. Crown’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Crown will post 8.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Crown from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. UBS Group lifted their price target on shares of Crown from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company reissued a “cautious” rating on shares of Crown in a research report on Monday. Citigroup lifted their price objective on shares of Crown from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on shares of Crown from $131.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $128.47.

About Crown

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.