Analysts Expect Crown Holdings, Inc. (CCK) to Announce $1.41 Earnings Per Share
Analysts predict that Crown Holdings, Inc. (NYSE:CCK) will report $1.41 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Crown Holdings’ earnings, with estimates ranging from $1.38 to $1.42. Crown Holdings posted earnings of $1.33 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, October 18th.
According to Zacks, analysts expect that Crown Holdings will report full year earnings of $4.02 per share for the current year, with EPS estimates ranging from $4.00 to $4.05. For the next financial year, analysts expect that the firm will post earnings of $4.45 per share, with EPS estimates ranging from $4.23 to $4.61. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Crown Holdings.
Crown Holdings (NYSE:CCK) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm posted $1.19 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, June 6th. BidaskClub downgraded shares of Crown Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Jefferies Group LLC set a $70.00 price target on Crown Holdings and gave the stock a “buy” rating in a research note on Monday, August 28th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $61.00 price target (up from $58.00) on shares of Crown Holdings in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of Crown Holdings in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Crown Holdings has an average rating of “Hold” and an average price target of $64.56.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its position in Crown Holdings by 1.3% in the 2nd quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 23 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Crown Holdings by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,625 shares of the industrial products company’s stock valued at $668,000 after purchasing an additional 144 shares during the last quarter. Toronto Dominion Bank boosted its stake in Crown Holdings by 12.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 185 shares during the last quarter. James Investment Research Inc. boosted its stake in Crown Holdings by 2.0% during the 2nd quarter. James Investment Research Inc. now owns 17,700 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 340 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Crown Holdings by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,103 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 351 shares during the last quarter. Institutional investors own 90.12% of the company’s stock.
Shares of Crown Holdings (CCK) traded down 0.18% during midday trading on Wednesday, hitting $59.85. The company’s stock had a trading volume of 48,598 shares. The firm has a market cap of $8.10 billion, a P/E ratio of 17.14 and a beta of 1.40. The stock’s 50 day moving average is $59.13 and its 200-day moving average is $57.54. Crown Holdings has a 52-week low of $51.57 and a 52-week high of $61.39.
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Crown Holdings Company Profile
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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