Analysts expect Crown Holdings (NYSE:CCK) to report sales of $2.04 billion for the current quarter, Zacks reports. Four analysts have made estimates for Crown’s earnings, with the highest sales estimate coming in at $2.16 billion and the lowest estimate coming in at $1.96 billion. Crown posted sales of $1.90 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The business is scheduled to issue its next quarterly earnings results on Wednesday, April 18th.

According to Zacks, analysts expect that Crown will report full-year sales of $2.04 billion for the current fiscal year, with estimates ranging from $8.72 billion to $9.56 billion. For the next financial year, analysts anticipate that the business will post sales of $9.18 billion per share, with estimates ranging from $8.83 billion to $9.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Crown.

How to Become a New Pot Stock Millionaire

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.79 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Crown had a net margin of 3.71% and a return on equity of 57.14%. Crown’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share.

CCK has been the topic of several research analyst reports. Vertical Research upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. TheStreet cut shares of Crown from a “b” rating to a “c” rating in a research report on Thursday, February 8th. ValuEngine cut shares of Crown from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. KeyCorp reaffirmed a “hold” rating on shares of Crown in a research note on Tuesday, December 19th. Finally, UBS began coverage on Crown in a research note on Wednesday, November 29th. They issued a “neutral” rating and a $65.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $64.70.

CCK stock traded up $0.10 during mid-day trading on Thursday, hitting $51.31. 1,320,468 shares of the company traded hands, compared to its average volume of 1,277,856. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.52 and a current ratio of 0.95. The company has a market capitalization of $6,891.40, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.66 and a beta of 1.50. Crown has a one year low of $48.86 and a one year high of $62.27.

Several large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Crown by 1.9% during the third quarter. Nordea Investment Management AB now owns 2,080,675 shares of the industrial products company’s stock valued at $124,258,000 after purchasing an additional 38,310 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Crown by 17.0% during the third quarter. Neuberger Berman Group LLC now owns 2,078,991 shares of the industrial products company’s stock valued at $124,157,000 after purchasing an additional 302,595 shares during the period. Cooke & Bieler LP boosted its stake in shares of Crown by 9.4% during the fourth quarter. Cooke & Bieler LP now owns 1,637,856 shares of the industrial products company’s stock valued at $92,129,000 after purchasing an additional 140,909 shares during the period. Brandywine Global Investment Management LLC boosted its stake in shares of Crown by 1.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 1,582,891 shares of the industrial products company’s stock valued at $89,038,000 after purchasing an additional 22,784 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Crown by 506.5% during the fourth quarter. LSV Asset Management now owns 1,069,908 shares of the industrial products company’s stock valued at $60,182,000 after purchasing an additional 893,500 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece of content was originally published by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.watchlistnews.com/crown-holdings-cck-expected-to-post-quarterly-sales-of-2-04-billion/1944001.html.

Crown Company Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.

Get a free copy of the Zacks research report on Crown (CCK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.