Crown (NYSE:CCK) Releases Q4 2024 Earnings Guidance

Crown (NYSE:CCK) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.450-1.550 for the period, compared to the consensus earnings per share estimate of 1.800. The company issued revenue guidance of -. Crown also updated its FY 2024 guidance to 6.250-6.350 EPS.

Analysts Set New Price Targets

Several research firms have weighed in on CCK. Wells Fargo & Company lifted their target price on Crown from $88.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Crown in a research report on Tuesday, September 24th. Bank of America increased their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, UBS Group cut their price objective on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.69.

Crown Stock Performance

Shares of NYSE CCK opened at $97.75 on Friday. The business’s 50-day simple moving average is $91.66 and its 200-day simple moving average is $84.36. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05. Crown has a 52 week low of $69.61 and a 52 week high of $98.46. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.19 and a beta of 0.86.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Crown will post 6.15 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Thursday, August 15th. Crown’s dividend payout ratio is 28.82%.

Insider Buying and Selling at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the transaction, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares in the company, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,506 shares of company stock worth $3,392,349 over the last ninety days. Company insiders own 0.90% of the company’s stock.

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.