Brokers Offer Predictions for Crown Holdings, Inc.’s FY2020 Earnings (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK) – Investment analysts at Seaport Global Securities lifted their FY2020 earnings per share estimates for shares of Crown in a research note issued to investors on Wednesday, October 21st. Seaport Global Securities analyst S. Tiano now expects that the industrial products company will earn $5.68 per share for the year, up from their prior estimate of $5.20. Seaport Global Securities currently has a “Buy” rating and a $92.00 target price on the stock. Seaport Global Securities also issued estimates for Crown’s Q4 2020 earnings at $1.26 EPS, Q1 2021 earnings at $1.33 EPS, Q3 2021 earnings at $2.03 EPS, Q4 2021 earnings at $1.36 EPS and FY2021 earnings at $6.25 EPS.

CCK has been the topic of a number of other research reports. Robert W. Baird lifted their target price on Crown from $80.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. KeyCorp reissued a “hold” rating on shares of Crown in a research note on Tuesday, July 21st. Citigroup lifted their price target on shares of Crown from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley lifted their price objective on shares of Crown from $74.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Crown from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $93.46.

Crown stock opened at $89.41 on Thursday. Crown has a 12-month low of $42.97 and a 12-month high of $90.88. The company has a quick ratio of 0.65, a current ratio of 1.15 and a debt-to-equity ratio of 3.60. The business’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $69.44. The stock has a market cap of $12.15 billion, a PE ratio of 23.61, a P/E/G ratio of 3.16 and a beta of 1.25.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, October 19th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.38. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.04 billion. Crown had a return on equity of 34.68% and a net margin of 4.52%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new stake in shares of Crown in the 2nd quarter worth approximately $2,875,000. AE Wealth Management LLC boosted its holdings in shares of Crown by 46.9% during the 2nd quarter. AE Wealth Management LLC now owns 16,869 shares of the industrial products company’s stock worth $1,099,000 after purchasing an additional 5,386 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Crown by 51.9% during the 1st quarter. HighTower Advisors LLC now owns 7,064 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 2,413 shares during the last quarter. AXA boosted its holdings in shares of Crown by 161.7% during the 1st quarter. AXA now owns 24,600 shares of the industrial products company’s stock worth $1,428,000 after purchasing an additional 15,200 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Crown during the 1st quarter worth approximately $1,029,000. 88.50% of the stock is currently owned by institutional investors.

In other Crown news, insider Didier Sourisseau sold 5,600 shares of the business’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 filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

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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