$2.04 Billion in Sales Expected for Crown Holdings (CCK) This Quarter
Brokerages forecast that Crown Holdings (NYSE:CCK) will announce $2.04 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Crown’s earnings. The highest sales estimate is $2.16 billion and the lowest is $1.96 billion. Crown reported sales of $1.90 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is scheduled to issue its next earnings report on Wednesday, April 18th.
On average, analysts expect that Crown will report full-year sales of $2.04 billion for the current fiscal year, with estimates ranging from $8.72 billion to $9.56 billion. For the next financial year, analysts expect that the company will report sales of $9.18 billion per share, with estimates ranging from $8.83 billion to $9.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Crown.
Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.02 billion. Crown had a return on equity of 57.14% and a net margin of 3.71%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share.
Shares of CCK stock traded down $0.85 during midday trading on Thursday, reaching $49.95. The company’s stock had a trading volume of 1,910,071 shares, compared to its average volume of 1,785,538. The firm has a market capitalization of $6,891.41, a P/E ratio of 21.17, a PEG ratio of 1.66 and a beta of 1.50. The company has a current ratio of 0.95, a quick ratio of 0.52 and a debt-to-equity ratio of 5.65. Crown has a 1 year low of $48.86 and a 1 year high of $62.27.
Large investors have recently modified their holdings of the company. Renaissance Group LLC boosted its holdings in shares of Crown by 40.9% during the third quarter. Renaissance Group LLC now owns 560,272 shares of the industrial products company’s stock worth $33,459,000 after acquiring an additional 162,564 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Crown by 11.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 331,509 shares of the industrial products company’s stock valued at $19,466,000 after buying an additional 34,171 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Crown by 14.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 26,600 shares of the industrial products company’s stock valued at $1,589,000 after buying an additional 3,300 shares during the period. Meadow Creek Investment Management LLC bought a new stake in shares of Crown in the fourth quarter valued at approximately $2,431,000. Finally, Pinebridge Investments L.P. boosted its stake in shares of Crown by 5.2% in the third quarter. Pinebridge Investments L.P. now owns 254,658 shares of the industrial products company’s stock valued at $15,209,000 after buying an additional 12,616 shares during the period. Institutional investors own 89.30% of the company’s stock.
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Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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