Crown (NYSE:CCK) Issues Q3 2019 Earnings Guidance

Crown (NYSE:CCK) updated its third quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $1.50-1.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.70. Crown also updated its FY 2019 guidance to $5.05-5.20 EPS.

Several analysts have issued reports on the stock. Deutsche Bank increased their target price on shares of Keysight Technologies from $100.00 to $120.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Wells Fargo & Co set a $9.00 price target on shares of Bausch Health Companies and gave the stock a sell rating in a report on Friday, May 17th. Zacks Investment Research lowered shares of Great Portland Estates from a hold rating to a sell rating in a report on Tuesday, April 16th. Morgan Stanley set a $60.00 price target on shares of Berry Global Group and gave the stock a hold rating in a report on Wednesday, April 17th. Finally, Citigroup increased their price target on shares of Silgan from $34.00 to $36.00 and gave the stock a buy rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Crown currently has a consensus rating of Hold and a consensus price target of $63.22.

Shares of NYSE:CCK opened at $59.58 on Friday. The business has a fifty day moving average of $59.64. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. Crown has a one year low of $39.05 and a one year high of $63.39. 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 (NYSE:CCK) last released its earnings results on Wednesday, July 17th. The industrial products company reported $1.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.03). Crown had a net margin of 3.91% and a return on equity of 51.32%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business posted $1.55 EPS. Crown’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts forecast that Crown will post 5.28 earnings per share for the current fiscal year.

In related news, Director John W. Conway sold 129,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $58.06, for a total transaction of $7,489,740.00. Following the transaction, the director now owns 1,156,677 shares of the company’s stock, valued at approximately $67,156,666.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $60.79, for a total transaction of $607,900.00. Following the transaction, the chief operating officer now directly owns 152,292 shares in the company, valued at approximately $9,257,830.68. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

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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