Crown (CCK) Updates Q2 2019 Earnings Guidance

Crown (NYSE:CCK) updated its second quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $1.43-1.53 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.52. Crown also updated its FY 2019 guidance to $5.20-5.40 EPS.

A number of research firms have issued reports on CCK. Zacks Investment Research downgraded Crown from a hold rating to a sell rating in a research note on Wednesday, January 23rd. Wells Fargo & Co set a $65.00 price objective on Crown and gave the stock a buy rating in a research note on Wednesday, April 17th. KeyCorp reaffirmed a hold rating on shares of Crown in a research note on Thursday, February 7th. Deutsche Bank lifted their price objective on 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 lifted their price objective on Crown from $58.00 to $64.00 and gave the stock an outperform rating in a research note on Tuesday, February 19th. One 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 stock. The stock has a consensus rating of Buy and a consensus target price of $60.11.

NYSE CCK opened at $59.05 on Friday. The company has a market cap of $7.99 billion, a PE ratio of 11.36, a P/E/G ratio of 1.63 and a beta of 1.66. 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 fifty-two week low of $39.05 and a fifty-two week high of $60.58.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $1.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.05. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.76 billion. Crown had a return on equity of 54.33% and a net margin of 3.86%. Crown’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 EPS. On average, equities analysts expect that Crown will post 5.29 earnings per share for the current year.

In other Crown news, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $53.51, for a total value of $6,902,790.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available through this link. Also, VP David A. Beaver sold 10,000 shares of the company’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 completion of the sale, the vice president now owns 21,417 shares of the company’s stock, valued at $1,140,241.08. The disclosure for this sale can be found here. Insiders sold a total of 268,000 shares of company stock worth $14,924,930 in the last ninety days. 1.90% of the stock is currently owned by corporate 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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