Crown Holdings, Inc. (CCK) Expected to Post Earnings of $1.41 Per Share
Analysts expect Crown Holdings, Inc. (NYSE:CCK) to post $1.41 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Crown Holdings’ earnings, with estimates ranging from $1.38 to $1.43. Crown Holdings reported earnings per share of $1.33 during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 18th.
On average, analysts expect that Crown Holdings will report full year earnings of $4.02 per share for the current fiscal year, with EPS estimates ranging from $4.00 to $4.05. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.45 per share, with EPS estimates ranging from $4.27 to $4.61. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Crown Holdings.
Crown Holdings (NYSE:CCK) last released its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.15 billion. Crown Holdings had a return on equity of 66.28% and a net margin of 5.81%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.
Several equities research analysts have issued reports on CCK shares. BidaskClub raised Crown Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Vertical Research cut Crown Holdings from a “buy” rating to a “hold” rating and lifted their price objective for the company from $60.00 to $64.00 in a research note on Friday, July 21st. Jefferies Group LLC set a $70.00 price objective on Crown Holdings and gave the company a “buy” rating in a research note on Monday, August 28th. ValuEngine raised Crown Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Crown Holdings in a research note on Monday, September 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.56.
Shares of Crown Holdings (NYSE:CCK) traded down 0.79% during trading on Wednesday, reaching $60.14. The company’s stock had a trading volume of 1,007,678 shares. The company has a market capitalization of $8.14 billion, a PE ratio of 17.23 and a beta of 1.40. Crown Holdings has a 1-year low of $51.57 and a 1-year high of $61.39. The stock has a 50 day moving average of $59.38 and a 200-day moving average of $57.74.
Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Crown Holdings by 12.1% in the second quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock valued at $102,000 after buying an additional 185 shares in the last quarter. Creative Planning grew its stake in shares of Crown Holdings by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Crown Holdings in the first quarter valued at $200,000. Two Sigma Securities LLC acquired a new stake in shares of Crown Holdings in the first quarter valued at $207,000. Finally, Acrospire Investment Management LLC grew its stake in shares of Crown Holdings by 1,990.5% in the second quarter. Acrospire Investment Management LLC now owns 4,181 shares of the industrial products company’s stock valued at $249,000 after buying an additional 3,981 shares in the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.
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About Crown Holdings
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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