Crown (NYSE:CCK) Posts Earnings Results, Misses Estimates By $0.19 EPS

Crown (NYSE:CCKGet Free Report) posted its quarterly earnings data on Monday. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19), Briefing.com reports. Crown had a net margin of 4.17% and a return on equity of 26.84%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company earned $1.17 EPS. The company’s revenue was down 5.1% compared to the same quarter last year.

Crown Stock Performance

Crown stock opened at $88.37 on Tuesday. The stock has a market cap of $10.66 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. The company has a current ratio of 1.13, a quick ratio of 0.70 and a debt-to-equity ratio of 2.21. The stock has a 50 day moving average of $90.11 and a 200-day moving average of $87.79. Crown has a 52 week low of $75.61 and a 52 week high of $96.35.

Insider Activity

In other news, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $90.96, for a total transaction of $682,200.00. Following the completion of the transaction, the chief executive officer now directly owns 651,264 shares in the company, valued at approximately $59,238,973.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Crown

Large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in Crown during the first quarter worth $58,000. UniSuper Management Pty Ltd bought a new position in Crown during the second quarter worth $78,000. Fairfield Bush & CO. bought a new position in Crown during the second quarter worth $99,000. Captrust Financial Advisors lifted its stake in Crown by 101.0% in the first quarter. Captrust Financial Advisors now owns 1,166 shares of the industrial products company’s stock valued at $146,000 after buying an additional 586 shares during the last quarter. Finally, American International Group Inc. lifted its stake in Crown by 25.1% in the second quarter. American International Group Inc. now owns 1,770 shares of the industrial products company’s stock valued at $163,000 after buying an additional 355 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCK shares. Jefferies Financial Group dropped their target price on shares of Crown from $123.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Wells Fargo & Company dropped their target price on shares of Crown from $86.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, October 19th. Truist Financial increased their target price on shares of Crown from $106.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. UBS Group initiated coverage on shares of Crown in a research report on Tuesday, January 16th. They set a “buy” rating and a $112.00 target price for the company. Finally, StockNews.com raised shares of Crown from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.09.

Check Out Our Latest Report on CCK

About Crown

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Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.

See Also

Earnings History for Crown (NYSE:CCK)

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