Brokerages Expect Crown Holdings, Inc. (NYSE:CCK) to Announce $1.59 EPS

Equities research analysts expect that Crown Holdings, Inc. (NYSE:CCK) will announce earnings of $1.59 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Crown’s earnings. The highest EPS estimate is $1.61 and the lowest is $1.59. Crown reported earnings per share of $1.56 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 21st.

On average, analysts expect that Crown will report full year earnings of $5.19 per share for the current year, with EPS estimates ranging from $5.12 to $5.25. For the next year, analysts expect that the business will report earnings of $5.66 per share, with EPS estimates ranging from $5.43 to $5.85. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Crown.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, July 20th. The industrial products company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. Crown had a net margin of 4.28% and a return on equity of 32.53%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was down 11.4% on a year-over-year basis.

Several analysts recently weighed in on CCK shares. Barclays reissued a “buy” rating on shares of Crown in a research note on Thursday, July 23rd. Deutsche Bank upped their target price on shares of Crown from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Citigroup upped their price objective on shares of Crown from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group initiated coverage on shares of Crown in a research report on Monday, July 13th. They set a “buy” rating and a $80.00 target price for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of Crown in a report on Tuesday, July 21st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Crown has a consensus rating of “Buy” and a consensus price target of $82.17.

In other news, insider Didier Sourisseau sold 5,600 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $74.48, for a total value of $417,088.00. Following the transaction, the insider now directly owns 76,908 shares in the company, valued at $5,728,107.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CCK. Nordea Investment Management AB grew its holdings in shares of Crown by 171.5% in the second quarter. Nordea Investment Management AB now owns 3,559,740 shares of the industrial products company’s stock worth $231,668,000 after purchasing an additional 2,248,500 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Crown by 94,351.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,009,682 shares of the industrial products company’s stock valued at $65,761,000 after purchasing an additional 1,008,613 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Crown by 14.4% in the first quarter. JPMorgan Chase & Co. now owns 7,456,034 shares of the industrial products company’s stock valued at $432,748,000 after purchasing an additional 935,962 shares during the period. Maverick Capital Ltd. raised its stake in shares of Crown by 23.2% during the first quarter. Maverick Capital Ltd. now owns 3,486,509 shares of the industrial products company’s stock worth $202,357,000 after purchasing an additional 656,156 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Crown during the first quarter worth $35,234,000. Hedge funds and other institutional investors own 88.50% of the company’s stock.

CCK traded up $0.77 during trading on Wednesday, hitting $76.51. 803,889 shares of the stock traded hands, compared to its average volume of 1,162,196. The business has a 50 day moving average price of $75.09 and a 200 day moving average price of $66.30. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.92 and a beta of 1.29. Crown has a twelve month low of $42.97 and a twelve month high of $80.57. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.15 and a quick ratio of 0.65.

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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