Crown Holdings (CCK) is Initiated by RBC Capital Mkts to Outperform, Price Target at $65

Crown Holdings (CCK) was Initiated by RBC Capital Mkts to “Outperform” and the brokerage firm has set the Price Target at $65. RBC Capital Mkts advised their investors in a research report released on Sep 30, 2016.

On the company’s financial health, Crown Holdings reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.11. The company had revenue of $2142.00 million for the quarter, compared to analysts expectations of $2239.75 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.03 EPS.

Crown Holdings opened for trading at $54.52 and hit $56.2 on the upside on Tuesday, eventually ending the session at $56.02, with a gain of 3.93% or 2.12 points. The heightened volatility saw the trading volume jump to 23,88,060 shares. Company has a market cap of $7,825 M.

In a different news, on May 27, 2016, Robert H Jr Bourque (President – Asia Pacific Div.) sold 715 shares at $52.41 per share price. According to the SEC, on May 19, 2016, David A. Beaver (VP and Corporate Controller) sold 1,000 shares at $53.31 per share price. On May 16, 2016, Jozef Salaerts (Former Pres – Asia Pacific Div) sold 1,500 shares at $54.61 per share price, according to the Form-4 filing with the securities and exchange commission.

Crown Holdings Inc. is engaged in design manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions Americas Europe and Asia Pacific. Within each Division the Company is organized along product lines. Within the Americas Division the Company operates Americas Beverage and North America Food. Within the European Division the Company operates European Beverage and European Food. The Company’s Asia Pacific Division consists of beverage can operations and also includes the Company’s non-beverage can operations such as food cans and specialty packaging. The Company also operates European aerosol and specialty packaging business its North American aerosol can business and its tooling and equipment operations in the United States and United Kingdom. The Company’s products include steel and aluminum cans for food beverage household and other consumer products and metal vacuum closures and caps.

Crown Holdings

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