Crown (NYSE:CCK) Releases Earnings Results, Hits Estimates

Crown (NYSE:CCK) announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.05, RTT News reports. Crown had a net margin of 3.86% and a return on equity of 54.33%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company posted $0.94 earnings per share. Crown’s quarterly revenue was up 25.4% on a year-over-year basis.

NYSE:CCK traded up $0.27 during trading hours on Friday, hitting $59.32. The company’s stock had a trading volume of 800 shares, compared to its average volume of 1,390,018. The firm has a market capitalization of $7.99 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.66. The company has a quick ratio of 0.65, a current ratio of 1.20 and a debt-to-equity ratio of 5.87. Crown has a twelve month low of $39.05 and a twelve month high of $60.58.

In other Crown news, VP David A. Beaver sold 10,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $53.24, for a total value of $532,400.00. Following the sale, the vice president now directly owns 21,417 shares in the company, valued at $1,140,241.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Conway sold 129,000 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total value of $6,902,790.00. Following the sale, the director now owns 1,155,464 shares in the company, valued at $61,828,878.64. The disclosure for this sale can be found here. Insiders sold 268,000 shares of company stock worth $14,924,930 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC purchased a new position in shares of Crown in the 1st quarter worth about $26,000. First Personal Financial Services lifted its stake in shares of Crown by 178.7% in the 1st quarter. First Personal Financial Services now owns 577 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 370 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Crown in the 4th quarter valued at about $30,000. IFP Advisors Inc lifted its stake in shares of Crown by 358.7% in the 4th quarter. IFP Advisors Inc now owns 899 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 703 shares during the last quarter. Finally, Private Capital Group LLC lifted its stake in shares of Crown by 43.4% in the 4th quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 300 shares during the last quarter.

A number of research firms have weighed in on CCK. Deutsche Bank lifted their price target on shares of Crown from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Morgan Stanley set a $56.00 price target on shares of Crown and gave the stock a “hold” rating in a research note on Wednesday, April 17th. ValuEngine raised Crown from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, KeyCorp reissued a “hold” rating on shares of Crown in a report on Thursday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.11.

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About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

See Also: Net Income

Earnings History for Crown (NYSE:CCK)

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