Zacks: Analysts Expect Crown Holdings, Inc. (NYSE:CCK) to Post $0.94 Earnings Per Share

Equities research analysts expect Crown Holdings, Inc. (NYSE:CCK) to report earnings of $0.94 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Crown’s earnings, with estimates ranging from $0.90 to $0.96. Crown posted earnings of $1.05 per share during the same quarter last year, which indicates a negative year over year growth rate of 10.5%. The firm is expected to report its next earnings report on Wednesday, April 15th.

On average, analysts expect that Crown will report full year earnings of $5.48 per share for the current year, with EPS estimates ranging from $5.35 to $5.55. For the next year, analysts expect that the company will post earnings of $5.83 per share, with EPS estimates ranging from $5.37 to $6.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Crown.

Crown (NYSE:CCK) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.72 billion. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS.

CCK has been the topic of several recent analyst reports. ValuEngine downgraded shares of Crown from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Barclays lifted their target price on shares of Crown from $88.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird lifted their target price on shares of Crown from $75.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. They noted that the move was a valuation call. BMO Capital Markets lifted their target price on shares of Crown from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their target price on shares of Crown from $79.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.20.

In other Crown news, VP David A. Beaver sold 1,200 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $75.68, for a total value of $90,816.00. Company insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp grew its position in Crown by 1.3% in the 4th quarter. M&T Bank Corp now owns 14,647 shares of the industrial products company’s stock worth $1,063,000 after purchasing an additional 187 shares during the last quarter. Sawgrass Asset Management LLC boosted its position in shares of Crown by 2.8% during the 3rd quarter. Sawgrass Asset Management LLC now owns 7,255 shares of the industrial products company’s stock valued at $479,000 after acquiring an additional 195 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Crown by 2.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 13,106 shares of the industrial products company’s stock valued at $951,000 after acquiring an additional 251 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Crown by 0.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 86,363 shares of the industrial products company’s stock valued at $6,265,000 after acquiring an additional 258 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Crown by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 67,650 shares of the industrial products company’s stock valued at $4,907,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 93.25% of the company’s stock.

CCK traded up $0.03 during trading on Friday, hitting $80.00. The stock had a trading volume of 592,998 shares. Crown has a 12 month low of $53.07 and a 12 month high of $80.57. The company has a 50 day simple moving average of $74.46 and a 200-day simple moving average of $70.13.

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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