Crown (CCK) Set to Announce Earnings on Thursday

Crown (NYSE:CCK) is set to announce its earnings results after the market closes on Thursday, October 17th. Analysts expect the company to announce earnings of $1.80 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm earned $1.68 EPS. Crown’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts expect Crown to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Crown Stock Up 0.8 %

Shares of NYSE CCK opened at $93.49 on Tuesday. Crown has a 52-week low of $69.61 and a 52-week high of $96.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. The business has a fifty day moving average of $90.76 and a two-hundred day moving average of $83.89. The stock has a market cap of $11.29 billion, a PE ratio of 26.93, a PEG ratio of 2.19 and a beta of 0.86.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s payout ratio is 28.82%.

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the sale, the chief executive officer now directly owns 571,178 shares in the company, valued at approximately $53,119,554. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,506 shares of company stock worth $3,392,349 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup raised their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. UBS Group lowered their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. StockNews.com lowered Crown from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Loop Capital raised their price objective on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America increased their price objective on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.86.

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.