Crown (CCK) Issues Q2 Earnings Guidance

Crown (NYSE:CCK) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.33. Crown also updated its FY18 guidance to $5.35-5.55 EPS.

Shares of NYSE:CCK opened at $51.20 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.52 and a debt-to-equity ratio of 5.65. Crown has a 1-year low of $48.26 and a 1-year high of $62.27. The company has a market cap of $7,029.75, a price-to-earnings ratio of 12.29, a PEG ratio of 1.69 and a beta of 1.43.

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Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, April 18th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.14. Crown had a net margin of 3.40% and a return on equity of 57.88%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. equities research analysts predict that Crown will post 4.42 EPS for the current fiscal year.

Several equities analysts have weighed in on CCK shares. Zacks Investment Research raised shares of Crown from a hold rating to a buy rating and set a $56.00 price target on the stock in a report on Wednesday, March 28th. Credit Suisse Group lowered their price target on shares of Crown from $64.00 to $58.00 and set a neutral rating on the stock in a report on Wednesday. TheStreet downgraded shares of Crown from a b rating to a c rating in a report on Thursday, February 8th. Citigroup lowered their price target on shares of Crown from $69.00 to $62.00 and set a buy rating on the stock in a report on Thursday, April 5th. Finally, JPMorgan Chase lifted their price target on shares of Crown from $68.00 to $69.00 and gave the company a buy rating in a report on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $63.67.

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About Crown

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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