Analysts predict that Crown Holdings, Inc. (NYSE:CCK) will report $2.75 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Crown’s earnings, with estimates ranging from $2.68 billion to $2.79 billion. Crown reported sales of $2.20 billion in the same quarter last year, which indicates a positive year over year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Wednesday, April 17th.
According to Zacks, analysts expect that Crown will report full-year sales of $11.83 billion for the current fiscal year, with estimates ranging from $11.65 billion to $12.02 billion. For the next year, analysts forecast that the company will post sales of $12.05 billion, with estimates ranging from $11.65 billion to $12.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Crown.
Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 6th. The industrial products company reported $1.00 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.00. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.81 billion. Crown had a net margin of 3.94% and a return on equity of 57.46%. The firm’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share.
CCK has been the subject of several recent research reports. Morgan Stanley initiated coverage on shares of Crown in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $49.00 target price for the company. Credit Suisse Group restated a “buy” rating and issued a $57.00 price objective on shares of Crown in a research note on Friday, December 7th. ValuEngine upgraded shares of Crown from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Deutsche Bank set a $60.00 price objective on shares of Crown and gave the stock a “buy” rating in a research note on Friday, February 8th. Finally, Citigroup reduced their price objective on shares of Crown from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $59.27.
CCK stock traded down $0.63 during trading hours on Wednesday, hitting $54.70. The company’s stock had a trading volume of 707,051 shares, compared to its average volume of 1,424,128. The company has a quick ratio of 0.61, a current ratio of 1.04 and a debt-to-equity ratio of 6.62. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 1.48 and a beta of 1.66. Crown has a 12 month low of $39.05 and a 12 month high of $55.93.
In related news, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the completion of the transaction, the director now directly owns 1,155,464 shares in the company, valued at approximately $61,828,878.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David A. Beaver sold 10,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $53.24, for a total transaction of $532,400.00. Following the transaction, the vice president now owns 21,417 shares of the company’s stock, valued at $1,140,241.08. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its stake in Crown by 2.4% during the 4th quarter. Prudential Financial Inc. now owns 8,385 shares of the industrial products company’s stock valued at $349,000 after purchasing an additional 200 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Crown by 0.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 36,251 shares of the industrial products company’s stock valued at $1,437,000 after purchasing an additional 235 shares during the last quarter. Private Capital Group LLC raised its stake in Crown by 43.4% during the 4th quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. Brown Advisory Inc. raised its stake in Crown by 11.8% during the 4th quarter. Brown Advisory Inc. now owns 5,161 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 545 shares during the last quarter. Finally, Standard Life Aberdeen plc raised its stake in Crown by 1.4% during the 3rd quarter. Standard Life Aberdeen plc now owns 41,787 shares of the industrial products company’s stock valued at $2,006,000 after purchasing an additional 582 shares during the last quarter.
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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