Crown (NYSE:CCK) Releases FY 2019 Earnings Guidance

Crown (NYSE:CCK) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $5.20-5.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.31. Crown also updated its FY19 guidance to $5.20-5.40 EPS.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Crown from a hold rating to a sell rating in a research note on Wednesday, January 23rd. Wells Fargo & Co set a $65.00 target price on Crown and gave the company a buy rating in a research report on Wednesday, April 17th. KeyCorp restated a hold rating on shares of Crown in a research report on Thursday, February 7th. Deutsche Bank increased their price target on Crown from $60.00 to $65.00 and gave the stock a positive rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada increased their price target on Crown from $58.00 to $64.00 and gave the stock an outperform rating in a report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Crown presently has an average rating of Buy and a consensus price target of $60.11.

Shares of CCK stock opened at $59.05 on Friday. The company has a debt-to-equity ratio of 5.87, a current ratio of 1.20 and a quick ratio of 0.65. Crown has a 12-month low of $39.05 and a 12-month high of $60.58. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.63 and a beta of 1.66.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.05. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.76 billion. Crown had a return on equity of 54.33% and a net margin of 3.86%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. Equities research analysts anticipate that Crown will post 5.29 earnings per share for the current fiscal year.

In related news, Director John W. Conway sold 129,000 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the transaction, the director now owns 1,155,464 shares in the company, valued at approximately $61,828,878.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David A. Beaver sold 10,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total value of $532,400.00. Following the transaction, the vice president now owns 21,417 shares in the company, valued at approximately $1,140,241.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,000 shares of company stock worth $14,924,930. Company insiders own 1.90% of the company’s stock.

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Crown Company Profile

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.

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