Crown (NYSE:CCK) Releases Earnings Results, Beats Expectations By $0.06 EPS

Crown (NYSE:CCK) released its quarterly earnings results on Monday. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06, RTT News reports. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.93 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. Crown’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share.

Crown Stock Up 0.6 %

CCK stock opened at $81.04 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. Crown has a twelve month low of $69.61 and a twelve month high of $96.35. The business has a 50 day moving average price of $77.60 and a two-hundred day moving average price of $82.60. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.73 and a beta of 0.91.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. This is an increase from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is currently 26.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCK. Royal Bank of Canada dropped their price target on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Wolfe Research initiated coverage on Crown in a report on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective for the company. Morgan Stanley initiated coverage on Crown in a report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. UBS Group initiated coverage on Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $99.21.

About Crown

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.