Crown (NYSE:CCK) Updates FY19 Earnings Guidance

Crown (NYSE:CCK) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.20-5.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.25. Crown also updated its FY 2019 guidance to $5.20-5.40 EPS.

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

Crown stock opened at $59.05 on Friday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.65 and a current ratio of 1.20. Crown has a 1-year low of $39.05 and a 1-year high of $60.58. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.63 and a beta of 1.66.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.05. Crown had a net margin of 3.86% and a return on equity of 54.33%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the firm earned $0.94 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. Equities research analysts predict that Crown will post 5.29 EPS for the current year.

In related news, VP David A. Beaver sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total transaction of $532,400.00. Following the completion of the sale, the vice president now owns 21,417 shares in the company, valued at $1,140,241.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Conway sold 129,000 shares of Crown stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $58.06, for a total transaction of $7,489,740.00. Following the completion of the transaction, the director now owns 1,156,677 shares of the company’s stock, valued at approximately $67,156,666.62. The disclosure for this sale can be found here. Insiders have sold 268,000 shares of company stock worth $14,924,930 over the last three months. 1.90% of the stock is owned by insiders.

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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.

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