Crown (CCK) Issues Earnings Results, Beats Estimates By $0.06 EPS

Crown (NYSE:CCK) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06, Briefing.com reports. Crown had a return on equity of 63.18% and a net margin of 2.81%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the previous year, the firm earned $1.46 EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. Crown updated its Q4 2018 guidance to $0.97-1.02 EPS and its Q4 guidance to $0.97-1.02 EPS.

NYSE:CCK opened at $46.46 on Friday. 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 1 year low of $40.09 and a 1 year high of $62.27. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 1.30 and a beta of 1.38.

In related news, Director William S. Urkiel bought 2,500 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were purchased at an average price of $40.25 per share, with a total value of $100,625.00. Following the transaction, the director now owns 46,594 shares in the company, valued at approximately $1,875,408.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William S. Urkiel bought 1,500 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were bought 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 in the company, valued at approximately $1,953,364.20. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

A number of analysts have issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of Crown in a research note on Thursday. Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet raised Crown from a “c+” rating to a “b-” rating in a research note on Wednesday, October 10th. ValuEngine raised Crown from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Bank of America lifted their price objective on Crown from $51.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.67.

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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Earnings History for Crown (NYSE:CCK)

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