Brokerages expect that Crown Holdings, Inc. (NYSE:CCK) will report sales of $2.03 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Crown Holdings’ earnings, with the lowest sales estimate coming in at $1.98 billion and the highest estimate coming in at $2.09 billion. Crown Holdings reported sales of $1.92 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is expected to report its next quarterly earnings results on Thursday, February 1st.
On average, analysts expect that Crown Holdings will report full-year sales of $2.03 billion for the current fiscal year, with estimates ranging from $8.51 billion to $8.62 billion. For the next year, analysts anticipate that the company will post sales of $8.84 billion per share, with estimates ranging from $8.62 billion to $9.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Crown Holdings.
Crown Holdings (NYSE:CCK) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. Crown Holdings had a return on equity of 60.44% and a net margin of 5.64%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year.
CCK has been the topic of a number of analyst reports. Zacks Investment Research upgraded Crown Holdings from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Thursday, September 21st. Vertical Research lowered Crown Holdings from a “buy” rating to a “hold” rating and boosted their price objective for the company from $60.00 to $64.00 in a research note on Friday, July 21st. Barclays PLC boosted their price objective on Crown Holdings from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. KeyCorp reiterated a “hold” rating on shares of Crown Holdings in a research note on Friday. Finally, Wells Fargo & Company boosted their price objective on Crown Holdings from $57.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.20.
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Shares of Crown Holdings (NYSE CCK) traded up $0.30 during midday trading on Tuesday, hitting $59.45. The stock had a trading volume of 456,900 shares, compared to its average volume of 796,382. The company has a debt-to-equity ratio of 4.60, a current ratio of 1.04 and a quick ratio of 0.57. Crown Holdings has a 1 year low of $51.57 and a 1 year high of $61.61. The stock has a market cap of $7,942.24, a PE ratio of 14.94, a PEG ratio of 2.10 and a beta of 1.44.
Several institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in shares of Crown Holdings by 8.7% during the 2nd quarter. Lazard Asset Management LLC now owns 10,225,857 shares of the industrial products company’s stock valued at $610,074,000 after purchasing an additional 819,689 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Crown Holdings by 6,932.0% during the 2nd quarter. Janus Henderson Group PLC now owns 6,536,851 shares of the industrial products company’s stock valued at $389,988,000 after purchasing an additional 6,443,892 shares during the last quarter. Boston Partners increased its position in shares of Crown Holdings by 1.2% during the 2nd quarter. Boston Partners now owns 5,560,782 shares of the industrial products company’s stock valued at $331,756,000 after purchasing an additional 64,738 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Crown Holdings by 2.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,110,252 shares of the industrial products company’s stock valued at $245,464,000 after acquiring an additional 105,104 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Crown Holdings by 1.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,080,675 shares of the industrial products company’s stock valued at $124,258,000 after acquiring an additional 38,310 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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