Jefferies Group Comments on Crown Holdings, Inc.’s Q3 2017 Earnings (CCK)
Crown Holdings, Inc. (NYSE:CCK) – Analysts at Jefferies Group increased their Q3 2017 earnings per share estimates for Crown Holdings in a note issued to investors on Thursday. Jefferies Group analyst P. Ng now anticipates that the industrial products company will post earnings of $1.42 per share for the quarter, up from their previous estimate of $1.35. Jefferies Group currently has a “Buy” rating and a $70.00 price target on the stock. Jefferies Group also issued estimates for Crown Holdings’ Q4 2017 earnings at $0.77 EPS, FY2017 earnings at $4.02 EPS and FY2018 earnings at $4.61 EPS.
A number of other research analysts also recently issued reports on CCK. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Crown Holdings in a research report on Wednesday, April 12th. Citigroup Inc. reaffirmed a “buy” rating and issued a $63.00 price objective (up previously from $62.00) on shares of Crown Holdings in a research report on Friday, April 14th. Zacks Investment Research downgraded shares of Crown Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada reissued a “buy” rating and set a $62.00 target price on shares of Crown Holdings in a research report on Monday, June 5th. Finally, ValuEngine downgraded shares of Crown Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.89.
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Shares of Crown Holdings (NYSE:CCK) opened at 59.83 on Monday. Crown Holdings has a 12-month low of $51.57 and a 12-month high of $60.96. The stock’s 50 day moving average is $58.79 and its 200-day moving average is $55.44. The stock has a market cap of $8.09 billion, a PE ratio of 17.14 and a beta of 1.40.
Crown Holdings (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 69.86%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis.
In other Crown Holdings news, VP David A. Beaver sold 1,000 shares of Crown Holdings stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $56.05, for a total transaction of $56,050.00. Following the completion of the sale, the vice president now directly owns 2,398 shares in the company, valued at approximately $134,407.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Crown Holdings by 10.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,970 shares of the industrial products company’s stock valued at $105,000 after buying an additional 191 shares during the last quarter. Creative Planning boosted its stake in shares of Crown Holdings by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Crown Holdings during the first quarter valued at approximately $200,000. Daiwa Securities Group Inc. boosted its stake in shares of Crown Holdings by 14.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Crown Holdings during the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 91.86% of the company’s stock.
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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