Crown (NYSE:CCK – Get Free Report) announced its earnings results on Monday. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06, RTT News reports. Crown had a net margin of 3.75% and a return on equity of 25.75%. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. Crown updated its Q2 guidance to $1.55-$1.65 EPS and its FY24 guidance to $5.80-$6.20 EPS.
Crown Trading Up 0.6 %
Crown stock traded up $0.50 during trading hours on Monday, reaching $81.09. 2,063,880 shares of the company’s stock were exchanged, compared to its average volume of 1,228,237. The firm has a market capitalization of $9.79 billion, a PE ratio of 21.65, a PEG ratio of 2.73 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The firm’s 50 day simple moving average is $77.43 and its 200 day simple moving average is $82.59. Crown has a twelve month low of $69.61 and a twelve month high of $96.35.
Crown Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is 26.60%.
Wall Street Analysts Forecast Growth
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Crown Company Profile
Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.
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