Wall Street analysts expect that Crown Holdings, Inc. (NYSE:CCK – Get Rating) will report sales of $3.32 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Crown’s earnings, with the lowest sales estimate coming in at $3.07 billion and the highest estimate coming in at $3.45 billion. Crown posted sales of $2.86 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Crown will report full year sales of $13.35 billion for the current fiscal year, with estimates ranging from $12.67 billion to $13.66 billion. For the next year, analysts anticipate that the company will post sales of $14.04 billion, with estimates ranging from $13.50 billion to $14.50 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Crown.
Crown (NYSE:CCK – Get Rating) last released its earnings results on Monday, April 25th. The industrial products company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.19. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $2.94 billion. Crown had a negative net margin of 4.63% and a positive return on equity of 39.60%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS.
Shares of NYSE:CCK traded up $2.15 during midday trading on Wednesday, reaching $103.66. The company’s stock had a trading volume of 1,109,926 shares, compared to its average volume of 1,406,149. The firm has a 50 day moving average of $118.88 and a 200-day moving average of $113.99. The firm has a market capitalization of $12.74 billion, a P/E ratio of -23.19, a PEG ratio of 2.48 and a beta of 1.11. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 2.50. Crown has a 12-month low of $95.27 and a 12-month high of $130.42.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Wednesday, May 11th. Crown’s payout ratio is presently -19.69%.
In other news, insider Hock Huat Goh sold 5,717 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $120.00, for a total value of $686,040.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John W. Conway sold 336 shares of the stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $123.54, for a total transaction of $41,509.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,706 shares of company stock worth $1,684,110. Insiders own 1.80% of the company’s stock.
Several large investors have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Crown during the 1st quarter worth approximately $321,000. First Trust Advisors LP raised its stake in Crown by 2.5% during the 1st quarter. First Trust Advisors LP now owns 75,709 shares of the industrial products company’s stock worth $4,131,000 after acquiring an additional 1,844 shares during the period. Morgan Stanley raised its stake in Crown by 28.0% during the 2nd quarter. Morgan Stanley now owns 753,803 shares of the industrial products company’s stock worth $77,046,000 after acquiring an additional 165,068 shares during the period. SG Americas Securities LLC bought a new stake in Crown during the 3rd quarter worth approximately $115,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Crown during the third quarter valued at approximately $249,000. Hedge funds and other institutional investors own 91.52% of the company’s stock.
Crown Company Profile (Get Rating)
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 and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.
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