Crown Holdings, Inc. (NYSE:CCK) Expected to Post Earnings of $1.77 Per Share


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Analysts expect that Crown Holdings, Inc. (NYSE:CCK) will post earnings of $1.77 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Crown’s earnings. The lowest EPS estimate is $1.70 and the highest is $1.88. Crown reported earnings of $1.33 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 33.1%. The business is scheduled to issue its next earnings report on Monday, July 19th.

On average, analysts expect that Crown will report full-year earnings of $6.85 per share for the current fiscal year, with EPS estimates ranging from $6.73 to $6.96. For the next fiscal year, analysts anticipate that the firm will report earnings of $7.47 per share, with EPS estimates ranging from $7.05 to $7.90. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Crown.

Crown (NYSE:CCK) last posted its earnings results on Sunday, April 18th. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.44. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Crown had a net margin of 4.52% and a return on equity of 33.90%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share.

CCK has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 21st. Barclays lifted their price target on shares of Crown from $103.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. Wells Fargo & Company lifted their price target on shares of Crown from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Thursday, April 22nd. They noted that the move was a valuation call. Morgan Stanley lifted their price target on shares of Crown from $122.00 to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Finally, Citigroup lifted their price target on shares of Crown from $117.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $116.71.

In related news, insider Hock Huat Goh sold 4,625 shares of the company’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $109.82, for a total transaction of $507,917.50. Following the sale, the insider now directly owns 53,607 shares in the company, valued at approximately $5,887,120.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Conway sold 334 shares of the company’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $109.76, for a total transaction of $36,659.84. Following the sale, the director now owns 1,031,377 shares in the company, valued at $113,203,939.52. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC purchased a new stake in shares of Crown during the 1st quarter valued at approximately $759,000. Victory Capital Management Inc. lifted its stake in Crown by 0.9% in the 1st quarter. Victory Capital Management Inc. now owns 59,717 shares of the industrial products company’s stock worth $5,795,000 after purchasing an additional 561 shares in the last quarter. Chartwell Investment Partners LLC raised its position in shares of Crown by 110.8% during the 1st quarter. Chartwell Investment Partners LLC now owns 25,094 shares of the industrial products company’s stock valued at $2,435,000 after buying an additional 13,192 shares in the last quarter. Signaturefd LLC raised its position in shares of Crown by 108.5% during the 1st quarter. Signaturefd LLC now owns 367 shares of the industrial products company’s stock valued at $36,000 after buying an additional 191 shares in the last quarter. Finally, Exane Derivatives raised its position in shares of Crown by 64,957.1% during the 1st quarter. Exane Derivatives now owns 4,554 shares of the industrial products company’s stock valued at $442,000 after buying an additional 4,547 shares in the last quarter. Institutional investors own 87.90% of the company’s stock.

Shares of NYSE CCK traded up $0.54 during midday trading on Thursday, reaching $110.98. 14,726 shares of the company were exchanged, compared to its average volume of 1,041,478. The stock’s 50-day moving average price is $103.04 and its 200-day moving average price is $97.22. The stock has a market cap of $14.97 billion, a P/E ratio of 29.10, a PEG ratio of 2.99 and a beta of 1.14. Crown has a one year low of $55.85 and a one year high of $111.67. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 3.47.

Crown declared that its board has authorized a share buyback plan on Thursday, February 25th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 11.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 20th. Stockholders of record on Thursday, May 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, May 5th. Crown’s dividend payout ratio is currently 15.66%.

Crown Company Profile

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, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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Earnings History and Estimates for Crown (NYSE:CCK)

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