Crown Holdings, Inc. (CCK) Expected to Post Quarterly Sales of $2.03 Billion
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.
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.
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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.
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