Crown (CCK) to Release Earnings on Monday

Crown (NYSE:CCK) is scheduled to announce its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Crown (NYSE:CCK) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.19). The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 EPS. On average, analysts expect Crown to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Crown Stock Up 1.0 %

Crown stock opened at $77.67 on Monday. The company has a 50-day simple moving average of $76.82 and a 200-day simple moving average of $82.75. The firm has a market capitalization of $9.38 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.63 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. Crown has a one year low of $69.61 and a one year high of $96.35.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio is currently 26.60%.

Institutional Investors Weigh In On Crown

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Crown by 5.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 162,089 shares of the industrial products company’s stock valued at $14,927,000 after acquiring an additional 8,948 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in Crown in the 4th quarter valued at about $414,000. Public Employees Retirement System of Ohio lifted its holdings in Crown by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 44,432 shares of the industrial products company’s stock valued at $4,092,000 after acquiring an additional 1,214 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Crown by 1.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 39,895 shares of the industrial products company’s stock valued at $3,674,000 after acquiring an additional 463 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Crown by 33.3% in the 4th quarter. Legal & General Group Plc now owns 493,723 shares of the industrial products company’s stock valued at $45,467,000 after acquiring an additional 123,265 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CCK shares. Wolfe Research started coverage on shares of Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. UBS Group started coverage on shares of Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective for the company. Morgan Stanley started coverage on shares of Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective for the company. Finally, Robert W. Baird raised shares of Crown from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $90.00 in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.