Crown (NYSE:CCK) Announces Earnings Results

Crown (NYSE:CCK) announced its quarterly earnings data on Monday. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22, Briefing.com reports. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 24.18%. Crown’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS.

Crown Stock Up 0.8 %

NYSE:CCK traded up $0.66 on Wednesday, hitting $85.03. 2,337,305 shares of the company’s stock traded hands, compared to its average volume of 1,143,467. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The firm has a 50-day moving average price of $79.16 and a 200-day moving average price of $80.24. The company has a market cap of $10.27 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a $0.25 dividend. The ex-dividend date was Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. Crown’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling at Crown

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the sale, the chief executive officer now directly owns 608,678 shares in the company, valued at approximately $51,737,630. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total value of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The disclosure for this sale can be found here. Insiders have sold a total of 54,000 shares of company stock valued at $4,575,870 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCK. Robert W. Baird upped their price target on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial raised their price target on shares of Crown from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Bank of America raised their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays lifted their price objective on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.21.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.