Crown (CCK) to Release Earnings on Monday

Crown (NYSE:CCK) is scheduled to be posting its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Crown to post earnings of $0.96 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company earned $1.17 EPS. The company’s revenue was down 5.1% on a year-over-year basis. On average, analysts expect Crown to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Crown Trading Up 1.0 %

NYSE:CCK opened at $77.67 on Monday. Crown has a 52 week low of $69.61 and a 52 week high of $96.35. The firm has a 50 day moving average of $76.82 and a 200 day moving average of $82.75. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.63 and a beta of 0.91.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.25 per share. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. Crown’s dividend payout ratio is presently 26.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CCK shares. JPMorgan Chase & Co. raised shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Wednesday, February 7th. Wells Fargo & Company decreased their price target on shares of Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Robert W. Baird raised shares of Crown from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $85.00 to $90.00 in a report on Tuesday, April 16th. Morgan Stanley began coverage on shares of Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Crown by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 11,825,703 shares of the industrial products company’s stock valued at $1,089,029,000 after buying an additional 173,460 shares during the period. BlackRock Inc. grew its position in Crown by 6.2% during the first quarter. BlackRock Inc. now owns 7,052,732 shares of the industrial products company’s stock valued at $583,332,000 after buying an additional 410,225 shares during the period. State Street Corp grew its position in Crown by 55.5% during the second quarter. State Street Corp now owns 3,709,202 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 1,323,107 shares during the period. Nomura Holdings Inc. grew its position in Crown by 202.1% during the first quarter. Nomura Holdings Inc. now owns 3,019,873 shares of the industrial products company’s stock valued at $249,774,000 after buying an additional 2,020,200 shares during the period. Finally, Geode Capital Management LLC grew its position in Crown by 3.2% during the first quarter. Geode Capital Management LLC now owns 1,639,053 shares of the industrial products company’s stock valued at $135,371,000 after buying an additional 51,546 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

About Crown

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.