Crown (NYSE:CCK – Get Free Report) announced its earnings results on Monday. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06, RTT News reports. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Crown updated its Q2 guidance to $1.55-$1.65 EPS and its FY24 guidance to $5.80-$6.20 EPS.
Crown Stock Up 0.6 %
CCK stock traded up $0.50 during trading on Monday, reaching $81.09. The stock had a trading volume of 2,063,843 shares, compared to its average volume of 1,228,370. Crown has a one year low of $69.61 and a one year high of $96.35. The company’s 50 day moving average is $77.43 and its two-hundred day moving average is $82.59. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 2.73 and a beta of 0.91.
Crown Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.25 per share. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is presently 26.60%.
Analyst Ratings Changes
Read Our Latest Stock Report on CCK
About Crown
Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.
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