Crown (NYSE:CCK) Releases Earnings Results, Beats Estimates By $0.19 EPS

Crown (NYSE:CCKGet Rating) posted its quarterly earnings data on Monday. The industrial products company reported $2.01 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.19, RTT News reports. Crown had a negative net margin of 4.70% and a positive return on equity of 37.44%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $1.83 EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis.

Shares of CCK traded down $2.75 during mid-day trading on Monday, hitting $116.61. 1,172,837 shares of the company’s stock were exchanged, compared to its average volume of 1,194,514. Crown has a 52 week low of $95.27 and a 52 week high of $130.42. The stock’s 50-day simple moving average is $122.95 and its 200-day simple moving average is $113.76. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of -25.13, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 2.60.

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

In other news, insider Hock Huat Goh sold 5,717 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $120.00, for a total transaction of $686,040.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Conway sold 336 shares of Crown stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $123.54, for a total transaction of $41,509.44. The disclosure for this sale can be found here. Insiders have sold 13,706 shares of company stock worth $1,684,110 over the last ninety days. Insiders own 1.80% of the company’s stock.

A number of large investors have recently made changes to their positions in CCK. Deutsche Bank AG increased its stake in Crown by 625.2% in the fourth quarter. Deutsche Bank AG now owns 950,859 shares of the industrial products company’s stock valued at $105,184,000 after acquiring an additional 819,739 shares during the last quarter. Morgan Stanley boosted its position in Crown by 28.0% in the second quarter. Morgan Stanley now owns 753,803 shares of the industrial products company’s stock valued at $77,046,000 after buying an additional 165,068 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Crown in the fourth quarter valued at approximately $10,957,000. Allstate Corp boosted its position in Crown by 317.2% in the fourth quarter. Allstate Corp now owns 19,379 shares of the industrial products company’s stock valued at $2,144,000 after buying an additional 14,734 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in Crown in the fourth quarter valued at approximately $540,000. 88.01% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on CCK shares. BMO Capital Markets upgraded shares of Crown from a “market perform” rating to an “outperform” rating and raised their target price for the company from $110.00 to $140.00 in a research note on Thursday, February 10th. TheStreet downgraded shares of Crown from a “b+” rating to a “c+” rating in a research note on Friday, February 11th. Zacks Investment Research downgraded shares of Crown from a “buy” rating to a “hold” rating and set a $127.00 target price for the company. in a research note on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Crown from $136.00 to $142.00 in a research note on Friday, February 11th. Finally, Citigroup increased their price target on shares of Crown from $143.00 to $151.00 in a report on Friday, April 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $143.08.

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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Earnings History for Crown (NYSE:CCK)

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