Crown Holdings, Inc. (NYSE:CCK) – Analysts at Jefferies Financial Group increased their FY2020 EPS estimates for Crown in a note issued to investors on Wednesday, July 22nd. Jefferies Financial Group analyst P. Ng now anticipates that the industrial products company will post earnings per share of $5.17 for the year, up from their prior estimate of $5.09. Jefferies Financial Group currently has a “Buy” rating and a $80.00 target price on the stock. Jefferies Financial Group also issued estimates for Crown’s Q4 2020 earnings at $1.12 EPS and FY2021 earnings at $5.60 EPS.
Other analysts have also recently issued reports about the stock. Deutsche Bank increased their target price on shares of Crown from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased their target price on shares of Crown from $63.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research lowered shares of Crown from a “hold” rating to a “sell” rating and set a $70.00 target price for the company. in a research report on Friday, May 29th. KeyCorp restated a “hold” rating on shares of Crown in a research report on Tuesday. Finally, ValuEngine lowered shares of Crown from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $80.75.
Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 20th. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. Crown had a net margin of 4.28% and a return on equity of 33.18%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. Crown’s revenue for the quarter was down 11.4% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of CCK. Verus Capital Partners LLC acquired a new stake in Crown during the fourth quarter worth approximately $29,000. Bessemer Group Inc. purchased a new position in Crown during the first quarter worth about $26,000. Sunbelt Securities Inc. purchased a new position in Crown during the fourth quarter worth about $8,251,000. Synovus Financial Corp grew its position in Crown by 125.7% during the first quarter. Synovus Financial Corp now owns 456 shares of the industrial products company’s stock worth $27,000 after buying an additional 254 shares in the last quarter. Finally, Ballast Advisors LLC bought a new stake in Crown during the first quarter worth about $33,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.
Crown Company Profile
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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