Crown (NYSE:CCK) Releases Earnings Results

Crown (NYSE:CCK) released its quarterly earnings data on Monday. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06, RTT News reports. Crown had a net margin of 3.51% and a return on equity of 24.23%. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business posted $1.20 EPS. Crown’s revenue for the quarter was down 6.4% compared to the same quarter last year.

Crown Stock Up 1.1 %

CCK stock opened at $83.00 on Thursday. The stock has a market cap of $10.03 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The stock’s fifty day simple moving average is $77.94 and its two-hundred day simple moving average is $82.62. Crown has a 1-year low of $69.61 and a 1-year high of $96.35.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.25 per share. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is 28.82%.

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction dated Tuesday, April 30th. The shares were 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 owns 616,178 shares of the company’s stock, valued at $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wolfe Research initiated coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price for the company. UBS Group assumed coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday. Loop Capital raised their price objective on shares of Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and an average price target of $99.29.

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.