Crown (NYSE:CCK) Releases Q4 2021 Earnings Guidance

Crown (NYSE:CCK) updated its fourth quarter 2021 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.500-$1.550 for the period, compared to the Thomson Reuters consensus estimate of $1.530. The company issued revenue guidance of -.Crown also updated its FY 2021 guidance to $7.500-$7.550 EPS.

Several equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Crown in a report on Wednesday, September 15th. They issued a buy rating and a $137.00 target price for the company. Truist assumed coverage on Crown in a report on Monday, September 13th. They issued a positive rating and a $138.00 target price for the company. Loop Capital assumed coverage on Crown in a report on Tuesday, October 5th. They issued a buy rating and a $165.00 target price for the company. Barclays began coverage on Crown in a report on Monday, September 20th. They issued an overweight rating and a $140.00 target price for the company. Finally, Truist Securities began coverage on Crown in a research report on Tuesday, September 14th. They issued a buy rating and a $138.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $130.80.

NYSE:CCK traded up $2.62 during mid-day trading on Thursday, hitting $105.23. 35,274 shares of the company’s stock traded hands, compared to its average volume of 986,776. The company has a fifty day moving average of $106.10 and a 200 day moving average of $105.00. Crown has a twelve month low of $84.78 and a twelve month high of $114.55. The company has a market capitalization of $14.20 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.83 and a beta of 1.18. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.24 and a current ratio of 1.57.

Crown (NYSE:CCK) last announced its earnings results on Sunday, October 24th. The industrial products company reported $2.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.06. Crown had a return on equity of 38.22% and a net margin of 5.84%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the company posted $1.96 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, research analysts expect that Crown will post 7.49 earnings per share for the current fiscal year.

In related news, Director B Craig Owens bought 2,000 shares of the stock in a transaction dated Tuesday, August 10th. The shares were purchased at an average price of $105.62 per share, for a total transaction of $211,240.00. Following the completion of the purchase, the director now directly owns 3,036 shares of the company’s stock, valued at $320,662.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hock Huat Goh sold 3,735 shares of the company’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $110.21, for a total value of $411,634.35. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Crown stock. Morgan Stanley lifted its stake in Crown Holdings, Inc. (NYSE:CCK) by 28.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 753,803 shares of the industrial products company’s stock after buying an additional 165,068 shares during the quarter. Morgan Stanley owned approximately 0.56% of Crown worth $77,046,000 as of its most recent SEC filing. Institutional investors own 86.19% of the company’s stock.

Crown Company Profile

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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Earnings History and Estimates for Crown (NYSE:CCK)

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