Zacks: Analysts Expect Crown Holdings, Inc. (CCK) Will Announce Earnings of $1.67 Per Share

Brokerages predict that Crown Holdings, Inc. (NYSE:CCK) will announce earnings of $1.67 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Crown’s earnings. The lowest EPS estimate is $1.64 and the highest is $1.70. Crown posted earnings per share of $1.41 in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 17th.

On average, analysts expect that Crown will report full-year earnings of $5.23 per share for the current year, with EPS estimates ranging from $5.20 to $5.25. For the next fiscal year, analysts forecast that the business will report earnings of $5.75 per share, with EPS estimates ranging from $5.43 to $6.05. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Crown.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, July 18th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.03). The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Crown had a return on equity of 58.64% and a net margin of 3.14%. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Crown from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America downgraded shares of Crown from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $59.00 to $51.00 in a research report on Thursday, July 19th. Citigroup dropped their target price on shares of Crown from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. UBS Group dropped their target price on shares of Crown from $59.00 to $50.00 and set a “$44.54” rating on the stock in a research report on Thursday, July 19th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Crown in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Crown presently has a consensus rating of “Hold” and an average price target of $59.00.

Shares of NYSE CCK opened at $47.96 on Tuesday. The company has a market capitalization of $6.48 billion, a PE ratio of 10.22, a PEG ratio of 1.31 and a beta of 1.37. Crown has a 52-week low of $40.09 and a 52-week high of $62.27. The company has a debt-to-equity ratio of 8.12, a quick ratio of 0.69 and a current ratio of 1.18.

In other Crown news, Director William S. Urkiel purchased 2,500 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was acquired at an average price of $40.25 per share, for a total transaction of $100,625.00. Following the purchase, the director now owns 46,594 shares of the company’s stock, valued at approximately $1,875,408.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William S. Urkiel purchased 1,500 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were acquired at an average price of $44.30 per share, with a total value of $66,450.00. Following the purchase, the director now directly owns 44,094 shares in the company, valued at approximately $1,953,364.20. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CCK. Tower Research Capital LLC TRC bought a new stake in Crown during the 2nd quarter valued at $187,000. Oppenheimer Asset Management Inc. bought a new stake in Crown during the 2nd quarter valued at $218,000. Cornerstone Wealth Management LLC bought a new stake in Crown during the 2nd quarter valued at $220,000. IBM Retirement Fund bought a new stake in Crown during the 1st quarter valued at $276,000. Finally, Gideon Capital Advisors Inc. bought a new stake in Crown during the 2nd quarter valued at $280,000. Institutional investors and hedge funds own 94.70% of the company’s stock.

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.

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