Crown (NYSE:CCK) Posts Earnings Results, Beats Estimates By $0.06 EPS

Crown (NYSE:CCK) announced its quarterly earnings data on Monday. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $1.20 EPS. The business’s revenue was down 6.4% on a year-over-year basis.

Crown Stock Up 1.2 %

Shares of NYSE CCK opened at $82.07 on Wednesday. The firm’s 50-day moving average is $77.78 and its 200-day moving average is $82.62. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The firm has a market capitalization of $9.91 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is 26.60%.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the transaction, the chief executive officer now owns 616,178 shares in the company, valued at $52,486,042.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCK shares. Truist Financial restated a “hold” rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Morgan Stanley started coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective for the company. Wolfe Research started coverage on shares of Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. upgraded shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $99.21.

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.