Crown Holdings, Inc. (NYSE:CCK) Expected to Post Earnings of $1.82 Per Share

Wall Street analysts expect that Crown Holdings, Inc. (NYSE:CCKGet Rating) will announce earnings of $1.82 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Crown’s earnings. The lowest EPS estimate is $1.78 and the highest is $1.85. Crown posted earnings per share of $1.83 during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Crown will report full-year earnings of $8.18 per share for the current financial year, with EPS estimates ranging from $7.98 to $8.30. For the next financial year, analysts expect that the firm will post earnings of $9.39 per share, with EPS estimates ranging from $8.78 to $9.80. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Crown.

Crown (NYSE:CCKGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.12. Crown had a negative net margin of 4.70% and a positive return on equity of 37.44%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business earned $1.50 earnings per share. Crown’s revenue was up 24.1% compared to the same quarter last year.

CCK has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Crown from $138.00 to $147.00 in a research report on Wednesday, January 12th. TheStreet cut shares of Crown from a “b+” rating to a “c+” rating in a report on Friday, February 11th. Wells Fargo & Company increased their price objective on Crown from $132.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, April 13th. Zacks Investment Research downgraded Crown from a “buy” rating to a “hold” rating and set a $127.00 price target on the stock. in a report on Tuesday, April 12th. Finally, assumed coverage on shares of Crown in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $141.31.

NYSE CCK traded down $1.95 during trading hours on Monday, reaching $116.98. The company had a trading volume of 32,858 shares, compared to its average volume of 1,189,588. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 2.60. The stock has a market capitalization of $14.46 billion, a P/E ratio of -25.27, a price-to-earnings-growth ratio of 2.91 and a beta of 1.09. The stock has a 50-day moving average of $122.61 and a 200 day moving average of $113.02. Crown has a 1-year low of $95.27 and a 1-year high of $130.42.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Thursday, March 10th were paid a dividend of $0.22 per share. This is a positive change from Crown’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, March 9th. Crown’s dividend payout ratio (DPR) is currently -18.97%.

In related news, Director John W. Conway sold 336 shares of the business’s stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $123.54, for a total value of $41,509.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hock Huat Goh sold 2,030 shares of Crown stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $125.19, for a total value of $254,135.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,706 shares of company stock worth $1,684,110. Corporate insiders own 1.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. First Horizon Advisors Inc. acquired a new stake in Crown during the third quarter valued at approximately $29,000. Covestor Ltd acquired a new stake in Crown during the 4th quarter worth about $33,000. Raleigh Capital Management Inc. acquired a new position in Crown in the 4th quarter worth about $55,000. Penserra Capital Management LLC boosted its holdings in Crown by 20.5% in the fourth quarter. Penserra Capital Management LLC now owns 577 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 98 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Crown during the 4th quarter worth $66,000. 88.01% of the stock is currently owned by hedge funds and other institutional investors.

Crown Company Profile (Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

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