Crown (CCK) Set to Announce Quarterly Earnings on Monday

Crown (NYSE:CCK) is scheduled to issue its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

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

Crown Stock Performance

Crown stock opened at $80.59 on Friday. 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 firm has a 50-day moving average of $77.43 and a 200-day moving average of $82.61. The firm has a market cap of $9.73 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.71 and a beta of 0.91. Crown has a 1-year low of $69.61 and a 1-year high of $96.35.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 dividend yield of 1.24%. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio is currently 26.60%.

Analyst Ratings Changes

Several brokerages have commented on CCK. JPMorgan Chase & Co. upgraded shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Wednesday, February 7th. Truist Financial restated a “hold” rating and issued a $88.00 target price (down previously from $100.00) on shares of Crown in a report on Wednesday, March 27th. Royal Bank of Canada lowered their target price on shares of Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Morgan Stanley initiated coverage on shares of Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price on the stock. Finally, Robert W. Baird upgraded shares of Crown from a “neutral” rating to an “outperform” rating and upped their price target for the company from $85.00 to $90.00 in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.