Crown (CCK) Issues Q4 2018 Earnings Guidance

Crown (NYSE:CCK) updated its fourth quarter 2018 earnings guidance on Wednesday. The company provided EPS guidance of $0.97-1.02 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.08. Crown also updated its Q4 guidance to $0.97-1.02 EPS.

Several research firms have recently commented on CCK. ValuEngine raised shares of Crown from a strong sell rating to a sell rating in a research report on Wednesday, October 3rd. Zacks Investment Research raised shares of Crown from a sell rating to a hold rating in a research report on Friday, October 5th. Bank of America lifted their price target on shares of Crown from $51.00 to $57.00 and gave the company a hold rating in a research report on Monday, September 24th. TheStreet raised shares of Crown from a c+ rating to a b- rating in a research report on Wednesday, October 10th. Finally, Citigroup reduced their price target on shares of Crown from $60.00 to $56.00 and set a buy rating on the stock in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Crown currently has an average rating of Hold and an average price target of $59.67.

Shares of NYSE CCK opened at $47.61 on Thursday. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.32 and a beta of 1.37. The company has a debt-to-equity ratio of 8.12, a quick ratio of 0.69 and a current ratio of 1.18. Crown has a 52-week low of $40.09 and a 52-week high of $62.27.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.17 billion. Crown had a return on equity of 58.64% and a net margin of 3.14%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. Analysts predict that Crown will post 5.21 earnings per share for the current fiscal year.

In other news, Director William S. Urkiel bought 2,500 shares of the business’s stock in a transaction on Friday, August 17th. The shares were bought at an average price of $40.25 per share, with a total value of $100,625.00. Following the completion of the transaction, the director now directly owns 46,594 shares in the company, valued at $1,875,408.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William S. Urkiel bought 1,500 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was purchased at an average cost of $44.30 per share, for a total transaction of $66,450.00. Following the transaction, the director now owns 44,094 shares of the company’s stock, valued at $1,953,364.20. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

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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