Wall Street brokerages forecast that Crown Holdings, Inc. (NYSE:CCK) will post sales of $2.03 billion for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Crown’s earnings. The lowest sales estimate is $1.98 billion and the highest is $2.09 billion. Crown reported sales of $1.92 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that Crown will report full year sales of $2.03 billion for the current financial year, with estimates ranging from $8.51 billion to $8.62 billion. For the next financial year, analysts expect that the company will post sales of $8.84 billion per share, with estimates ranging from $8.62 billion to $9.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Crown.

Crown (NYSE:CCK) last posted its earnings results on Wednesday, October 18th. The industrial products company reported $1.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.41. Crown had a return on equity of 60.44% and a net margin of 5.64%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the firm earned $1.33 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis.

A number of research firms have recently commented on CCK. KeyCorp restated a “hold” rating on shares of Crown in a research report on Tuesday. ValuEngine lowered shares of Crown from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. UBS assumed coverage on shares of Crown in a research note on Wednesday, November 29th. They issued a “neutral” rating and a $65.00 price target on the stock. Barclays raised their price target on shares of Crown from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Finally, Wells Fargo & Company raised their price target on shares of Crown from $57.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.27.

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its stake in Crown by 6,932.0% in the 2nd quarter. Janus Henderson Group PLC now owns 6,536,851 shares of the industrial products company’s stock worth $389,988,000 after purchasing an additional 6,443,892 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Crown by 8.7% in the 2nd quarter. Lazard Asset Management LLC now owns 10,225,857 shares of the industrial products company’s stock worth $610,074,000 after purchasing an additional 819,689 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Crown by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,005,148 shares of the industrial products company’s stock worth $238,947,000 after purchasing an additional 584,647 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Crown by 283.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 726,995 shares of the industrial products company’s stock worth $43,416,000 after purchasing an additional 537,416 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new position in Crown in the 2nd quarter worth approximately $24,544,000. 89.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Crown (NYSE CCK) opened at $56.53 on Wednesday. Crown has a 12-month low of $51.76 and a 12-month high of $62.27. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.57 and a current ratio of 1.04. The company has a market capitalization of $7,590.00, a PE ratio of 14.59, a PEG ratio of 2.05 and a beta of 1.42.

COPYRIGHT VIOLATION NOTICE: “Crown Holdings, Inc. (CCK) Expected to Post Quarterly Sales of $2.03 Billion” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/12/20/crown-holdings-inc-cck-expected-to-post-quarterly-sales-of-2-03-billion.html.

Crown 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.

Get a free copy of the Zacks research report on Crown (CCK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Crown (NYSE:CCK)

Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.