Crown Holdings Inc. (CCK) Scheduled to Post Earnings on Wednesday
Crown Holdings Inc. (NYSE:CCK) will be posting its Q316 quarterly earnings results on Wednesday, October 19th. Analysts expect Crown Holdings to post earnings of $1.30 per share and revenue of $2.39 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.08. Crown Holdings had a return on equity of 106.65% and a net margin of 5.34%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company earned $1.03 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. On average, analysts expect Crown Holdings to post $3.93 EPS for the current fiscal year and $4.24 EPS for the next fiscal year.
Crown Holdings Inc. (NYSE:CCK) opened at 55.38 on Tuesday. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 16.99 and a beta of 1.32. The stock has a 50 day moving average price of $55.11 and a 200 day moving average price of $53.16. Crown Holdings Inc. has a 52-week low of $43.30 and a 52-week high of $57.46.
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Several research analysts have commented on the stock. Jefferies Group boosted their price objective on shares of Crown Holdings from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, July 14th. RBC Capital Markets assumed coverage on shares of Crown Holdings in a research report on Thursday, September 29th. They set an “outperform” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded shares of Crown Holdings from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Barclays PLC boosted their price objective on shares of Crown Holdings from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. Finally, Credit Suisse Group AG set a $58.00 price objective on shares of Crown Holdings and gave the company a “hold” rating in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.38.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCK. Bessemer Group Inc. bought a new position in shares of Crown Holdings during the second quarter valued at approximately $139,000. Point72 Asia Hong Kong Ltd increased its position in shares of Crown Holdings by 89.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,917 shares of the company’s stock worth $148,000 after buying an additional 1,381 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Crown Holdings by 3.7% in the second quarter. Mackenzie Financial Corp now owns 4,379 shares of the company’s stock worth $222,000 after buying an additional 157 shares in the last quarter. Tredje AP fonden increased its position in shares of Crown Holdings by 1,344.7% in the second quarter. Tredje AP fonden now owns 5,490 shares of the company’s stock worth $278,000 after buying an additional 5,110 shares in the last quarter. Finally, Cantab Capital Partners LLP acquired a new position in shares of Crown Holdings during the second quarter worth about $292,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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