KeyBanc analyst Adam Josephson maintained a Hold rating on Crown Holdings (CCK) today. The company’s shares opened today at $50.62.
Josephson said:
“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.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 8.1% and a 64.8% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crown Holdings with a $54.80 average price target.
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Based on Crown Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.18 billion and net profit of $164 million. In comparison, last year the company earned revenue of $2.17 billion and had a GAAP net loss of $89 million.
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Crown Holdings, Inc. engages in the design, manufacture and sale of packaging products for consumer goods. It operates through the following geographical divisions: Americas, European, and Asia-Pacific. The Americas division includes operations in the U.S., Brazil, Canada, the Caribbean, Colombia and Mexico.
