Crown (NYSE:CCK) Issues Earnings Results

Crown (NYSE:CCK) released its quarterly earnings data on Monday. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.13, FiscalAI reports. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Crown had a net margin of 5.91% and a return on equity of 27.33%.

Crown Price Performance

NYSE:CCK traded up $0.73 during trading hours on Monday, reaching $114.88. The stock had a trading volume of 1,076,641 shares, compared to its average volume of 1,081,562. The stock has a market capitalization of $12.49 billion, a PE ratio of 16.53, a PEG ratio of 1.54 and a beta of 0.56. Crown has a 52 week low of $91.31 and a 52 week high of $122.91. The company has a 50 day moving average price of $113.05 and a two-hundred day moving average price of $108.19. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.65 and a current ratio of 1.05.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. Crown’s payout ratio is presently 20.14%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CCK. Royal Bank Of Canada upped their target price on shares of Crown from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. UBS Group reduced their price target on shares of Crown from $123.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Mizuho boosted their price target on shares of Crown from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Citigroup reiterated a “buy” rating on shares of Crown in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Crown in a report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

About Crown

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.