Crown Holdings, Inc. (NYSE:CCK – Get Rating) – Stock analysts at KeyCorp cut their FY2022 earnings per share estimates for Crown in a research report issued to clients and investors on Wednesday, April 27th. KeyCorp analyst A. Josephson now anticipates that the industrial products company will earn $8.14 per share for the year, down from their previous estimate of $8.20.
Crown (NYSE:CCK – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The industrial products company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.19. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Crown had a negative net margin of 4.63% and a positive return on equity of 38.16%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS.
Shares of CCK stock opened at $110.04 on Monday. The company’s 50-day moving average price is $121.94 and its 200-day moving average price is $113.94. 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 cap of $13.60 billion, a price-to-earnings ratio of -24.62, a PEG ratio of 2.72 and a beta of 1.09. Crown has a twelve month low of $95.27 and a twelve month high of $130.42.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Wednesday, May 11th. Crown’s dividend payout ratio is presently -19.69%.
In other 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 transaction of $41,509.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hock Huat Goh sold 5,623 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $124.92, for a total value of $702,425.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,706 shares of company stock valued at $1,684,110. Corporate insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Crown by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 698,881 shares of the industrial products company’s stock valued at $70,433,000 after purchasing an additional 26,227 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Crown by 8.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 87,261 shares of the industrial products company’s stock valued at $9,653,000 after purchasing an additional 6,755 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Crown by 14.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 29,525 shares of the industrial products company’s stock valued at $3,266,000 after purchasing an additional 3,723 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Crown in the third quarter valued at approximately $665,000. Finally, Victory Capital Management Inc. boosted its holdings in Crown by 53.8% in the third quarter. Victory Capital Management Inc. now owns 92,209 shares of the industrial products company’s stock valued at $9,293,000 after purchasing an additional 32,269 shares in the last quarter. 88.01% of the stock is owned by hedge funds and other institutional investors.
About Crown (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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