Equities analysts expect Crown Holdings, Inc. (NYSE:CCK) to post $1.57 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Crown’s earnings. The highest EPS estimate is $1.59 and the lowest is $1.54. Crown posted earnings per share of $1.71 during the same quarter last year, which indicates a negative year over year growth rate of 8.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 16th.
According to Zacks, analysts expect that Crown will report full year earnings of $5.09 per share for the current year, with EPS estimates ranging from $5.05 to $5.12. For the next fiscal year, analysts anticipate that the business will report earnings of $5.49 per share, with EPS estimates ranging from $4.92 to $5.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Crown.
Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.03). Crown had a return on equity of 48.36% and a net margin of 3.91%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis.
Shares of Crown stock traded down $1.16 during trading on Tuesday, hitting $63.60. 855,159 shares of the company’s stock traded hands, compared to its average volume of 955,087. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.17 and a quick ratio of 0.66. The firm’s fifty day moving average price is $65.28 and its 200 day moving average price is $59.80. Crown has a twelve month low of $39.05 and a twelve month high of $68.84. The company has a market cap of $8.78 billion, a PE ratio of 12.23, a PEG ratio of 1.82 and a beta of 1.57.
In related news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total value of $679,200.00. Following the completion of the transaction, the chief operating officer now owns 152,292 shares in the company, valued at approximately $10,343,672.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CCK. Nuveen Asset Management LLC bought a new stake in shares of Crown in the 2nd quarter valued at $288,769,000. EdgePoint Investment Group Inc. increased its stake in shares of Crown by 25.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 9,097,806 shares of the industrial products company’s stock valued at $555,876,000 after acquiring an additional 1,837,020 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Crown by 2,231.4% in the 2nd quarter. William Blair Investment Management LLC now owns 1,523,046 shares of the industrial products company’s stock valued at $93,058,000 after acquiring an additional 1,457,718 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Crown by 21.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,166,386 shares of the industrial products company’s stock valued at $425,970,000 after acquiring an additional 1,285,895 shares in the last quarter. Finally, Thornburg Investment Management Inc. bought a new stake in shares of Crown in the 1st quarter valued at $54,449,000. Institutional investors and hedge funds own 96.19% of the company’s stock.
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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