Zacks: Analysts Anticipate Crown Holdings, Inc. (CCK) Will Post Quarterly Sales of $2.03 Billion

Wall Street analysts expect that Crown Holdings, Inc. (NYSE:CCK) will report $2.03 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Crown’s earnings. The lowest sales estimate is $1.98 billion and the highest is $2.09 billion. Crown posted sales of $1.92 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, February 1st.

According to Zacks, analysts expect that Crown will report full year sales of $2.03 billion for the current year, with estimates ranging from $8.51 billion to $8.62 billion. For the next fiscal year, analysts expect that the company will report sales of $8.79 billion per share, with estimates ranging from $8.62 billion to $9.00 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Crown.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.41. Crown had a net margin of 5.64% and a return on equity of 60.44%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the company posted $1.33 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis.

A number of research analysts have recently commented on CCK shares. Zacks Investment Research raised shares of Crown from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Thursday, September 21st. Vertical Research raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. KeyCorp reissued a “hold” rating on shares of Crown in a research report on Tuesday, December 19th. ValuEngine downgraded shares of Crown from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Wells Fargo & Co increased their price objective on shares of Crown from $57.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $64.27.

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its position in shares of Crown by 12.1% in the 2nd quarter. Toronto Dominion Bank now owns 1,715 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 185 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Crown by 40.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,988 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 863 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Crown in the 3rd quarter valued at $205,000. Oakbrook Investments LLC acquired a new position in shares of Crown in the 3rd quarter valued at $207,000. Finally, ETRADE Capital Management LLC acquired a new position in shares of Crown in the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 89.97% of the company’s stock.

Crown (CCK) opened at $56.74 on Friday. The stock has a market cap of $7,665.64, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.42. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 4.60. Crown has a 1-year low of $51.76 and a 1-year high of $62.27.

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About Crown

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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