Seaport Res Ptn Equities Analysts Raise Earnings Estimates for Crown Holdings, Inc. (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK) – Seaport Res Ptn upped their Q3 2021 earnings per share estimates for shares of Crown in a research report issued to clients and investors on Monday, July 19th. Seaport Res Ptn analyst S. Tiano now forecasts that the industrial products company will post earnings per share of $1.63 for the quarter, up from their previous estimate of $1.61. Seaport Res Ptn also issued estimates for Crown’s FY2022 earnings at $7.10 EPS.

Crown (NYSE:CCK) last announced its quarterly earnings results on Sunday, July 18th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.36. Crown had a return on equity of 38.77% and a net margin of 5.84%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis.

A number of other equities research analysts also recently issued reports on CCK. BMO Capital Markets downgraded shares of Crown from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $125.00 to $110.00 in a research note on Wednesday, May 26th. Wells Fargo & Company increased their price target on shares of Crown from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Thursday, April 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price target on Crown from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 21st. They noted that the move was a valuation call. Jefferies Financial Group upped their price objective on Crown from $123.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Crown from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Wednesday, April 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $118.40.

NYSE CCK opened at $101.78 on Thursday. The firm’s 50 day moving average price is $103.49. Crown has a one year low of $70.10 and a one year high of $114.55. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 2.80. The company has a market cap of $13.73 billion, a P/E ratio of 19.46, a P/E/G ratio of 3.00 and a beta of 1.17.

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in Crown during the 1st quarter valued at about $321,000. First Trust Advisors LP increased its holdings in Crown by 2.5% during the first quarter. First Trust Advisors LP now owns 75,709 shares of the industrial products company’s stock valued at $4,131,000 after buying an additional 1,844 shares during the period. Los Angeles Capital Management LLC bought a new position in Crown in the fourth quarter worth approximately $2,382,000. FIL Ltd boosted its position in Crown by 5.5% during the 4th quarter. FIL Ltd now owns 3,579 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 186 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in shares of Crown in the 4th quarter valued at $233,000. Hedge funds and other institutional investors own 86.89% of the company’s stock.

In related news, insider Hock Huat Goh sold 5,136 shares of the stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $113.60, for a total value of $583,449.60. Following the transaction, the insider now owns 48,471 shares of the company’s stock, valued at $5,506,305.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Conway sold 334 shares of the firm’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $109.76, for a total value of $36,659.84. Following the transaction, the director now owns 1,031,377 shares in the company, valued at $113,203,939.52. The disclosure for this sale can be found here. Insiders sold a total of 10,095 shares of company stock worth $1,128,027 in the last ninety days. 1.90% of the stock is currently owned by insiders.

About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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Earnings History and Estimates for Crown (NYSE:CCK)

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