Q3 2017 Earnings Forecast for Crown Holdings, Inc. Issued By KeyCorp (NYSE:CCK)
Crown Holdings, Inc. (NYSE:CCK) – Stock analysts at KeyCorp boosted their Q3 2017 earnings per share estimates for Crown Holdings in a note issued to investors on Thursday. KeyCorp analyst A. Josephson now expects that the industrial products company will earn $1.36 per share for the quarter, up from their previous estimate of $1.34. KeyCorp also issued estimates for Crown Holdings’ FY2017 earnings at $3.95 EPS and FY2018 earnings at $4.15 EPS.
Several other equities analysts have also commented on the stock. ValuEngine raised shares of Crown Holdings from a “hold” rating to a “buy” rating in a report on Friday, June 30th. BidaskClub raised shares of Crown Holdings from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research lowered shares of Crown Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Royal Bank of Canada reaffirmed a “buy” rating and set a $62.00 target price on shares of Crown Holdings in a report on Monday, June 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Crown Holdings in a report on Wednesday, May 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Crown Holdings currently has a consensus rating of “Buy” and an average price target of $62.11.
Shares of Crown Holdings (NYSE:CCK) opened at 59.81 on Monday. Crown Holdings has a 1-year low of $50.82 and a 1-year high of $59.98. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 15.91 and a beta of 1.40. The stock has a 50 day moving average price of $57.51 and a 200 day moving average price of $54.76.
Crown Holdings (NYSE:CCK) last released its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. Crown Holdings had a return on equity of 75.25% and a net margin of 6.32%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $0.69 EPS. The company’s revenue was up .4% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in CCK. BlackRock Inc. boosted its stake in Crown Holdings by 5,730.2% in the first quarter. BlackRock Inc. now owns 8,156,399 shares of the industrial products company’s stock valued at $431,880,000 after buying an additional 8,016,500 shares in the last quarter. Norges Bank bought a new stake in Crown Holdings during the fourth quarter valued at approximately $62,138,000. Lazard Asset Management LLC boosted its stake in Crown Holdings by 11.9% in the first quarter. Lazard Asset Management LLC now owns 9,406,168 shares of the industrial products company’s stock valued at $498,056,000 after buying an additional 997,113 shares in the last quarter. Boston Partners boosted its stake in Crown Holdings by 17.3% in the first quarter. Boston Partners now owns 5,496,044 shares of the industrial products company’s stock valued at $291,016,000 after buying an additional 810,314 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in Crown Holdings by 14.1% in the first quarter. Janus Capital Management LLC now owns 3,988,346 shares of the industrial products company’s stock valued at $211,183,000 after buying an additional 492,530 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.
In other Crown Holdings news, VP David A. Beaver sold 1,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $56.05, for a total value of $56,050.00. Following the sale, the vice president now owns 2,398 shares of the company’s stock, valued at approximately $134,407.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jenne K. Britell sold 4,525 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $55.65, for a total transaction of $251,816.25. Following the completion of the sale, the director now directly owns 50,038 shares in the company, valued at approximately $2,784,614.70. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.
Crown Holdings Company Profile
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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