Equities analysts predict that Crown Holdings (NYSE:CCK) will report sales of $2.04 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Crown’s earnings. The lowest sales estimate is $1.96 billion and the highest is $2.16 billion. Crown reported sales of $1.90 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The company is expected to announce its next quarterly earnings report on Wednesday, April 18th.
On average, analysts expect that Crown will report full-year sales of $2.04 billion for the current year, with estimates ranging from $8.72 billion to $9.56 billion. For the next financial year, analysts forecast that the firm will post sales of $9.18 billion per share, with estimates ranging from $8.83 billion to $9.68 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Crown.
Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Crown had a net margin of 3.71% and a return on equity of 57.14%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS.
A number of brokerages recently commented on CCK. ValuEngine cut shares of Crown from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. UBS began coverage on shares of Crown in a research report on Wednesday, November 29th. They issued a “neutral” rating and a $65.00 target price on the stock. Zacks Investment Research cut shares of Crown from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. KeyCorp reiterated a “hold” rating on shares of Crown in a research report on Tuesday, December 19th. Finally, Vertical Research upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Crown currently has an average rating of “Hold” and a consensus target price of $64.70.
Hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. increased its position in shares of Crown by 155.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,300 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 1,400 shares during the period. American International Group Inc. purchased a new position in shares of Crown in the fourth quarter valued at about $169,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Crown by 40.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 863 shares during the period. First Republic Investment Management Inc. purchased a new position in shares of Crown in the third quarter valued at about $205,000. Finally, Delpha Capital Management LLC purchased a new position in shares of Crown in the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Shares of CCK stock traded down $0.85 during trading hours on Thursday, reaching $49.95. 1,910,071 shares of the company were exchanged, compared to its average volume of 1,785,538. The stock has a market cap of $6,891.41, a PE ratio of 21.17, a PEG ratio of 1.66 and a beta of 1.50. Crown has a one year low of $48.86 and a one year high of $62.27. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.52 and a current ratio of 0.95.
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Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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