Crown (NYSE:CCK) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.03), Briefing.com reports. Crown had a net margin of 3.91% and a return on equity of 51.32%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the business posted $1.55 EPS. The company’s revenue was down .4% on a year-over-year basis.
Shares of NYSE:CCK opened at $59.50 on Friday. The stock has a market capitalization of $8.06 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. 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 12-month low of $39.05 and a 12-month high of $63.39. The firm’s 50 day moving average is $59.72.
Several brokerages recently issued reports on CCK. Citigroup lifted their target price on Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Deutsche Bank lifted their target price on Keysight Technologies from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Wells Fargo & Co set a $9.00 target price on Bausch Health Companies and gave the company a “sell” rating in a research report on Friday, May 17th. Morgan Stanley set a $60.00 target price on Berry Global Group and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, Zacks Investment Research cut Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.88.
In related news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction on Monday, June 10th. The stock was sold at an average price of $60.79, for a total transaction of $607,900.00. Following the sale, the chief operating officer now directly owns 152,292 shares in the company, valued at $9,257,830.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Conway sold 129,000 shares of Crown stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $58.06, for a total value of $7,489,740.00. Following the sale, the director now owns 1,156,677 shares in the company, valued at $67,156,666.62. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of CCK. FMR LLC lifted its holdings in Crown by 48.7% during the fourth quarter. FMR LLC now owns 8,692,722 shares of the industrial products company’s stock worth $361,357,000 after acquiring an additional 2,846,721 shares during the period. CI Investments Inc. bought a new stake in Crown during the fourth quarter worth $75,973,000. Norges Bank bought a new stake in Crown during the fourth quarter worth $69,142,000. Thornburg Investment Management Inc. bought a new stake in Crown during the first quarter worth $54,449,000. Finally, Tensile Capital Management LLC lifted its holdings in Crown by 68.4% during the fourth quarter. Tensile Capital Management LLC now owns 1,125,282 shares of the industrial products company’s stock worth $46,778,000 after acquiring an additional 456,977 shares during the period. Institutional investors and hedge funds own 98.97% of the company’s stock.
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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