Crown (NYSE:CCK) Releases Q3 2021 Earnings Guidance

Crown (NYSE:CCK) updated its third quarter 2021 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.900-$2.000 for the period, compared to the Thomson Reuters consensus estimate of $1.690. The company issued revenue guidance of -.Crown also updated its FY 2021 guidance to $7.300-$7.400 EPS.

CCK has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of Crown from $123.00 to $134.00 and gave the company a buy rating in a report on Thursday, April 15th. The Goldman Sachs Group initiated coverage on shares of Crown in a report on Friday, April 9th. They issued a neutral rating and a $108.00 price target on the stock. BMO Capital Markets lowered shares of Crown from an outperform rating to a market perform rating and lowered their price target for the company from $125.00 to $110.00 in a report on Wednesday, May 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Crown from $120.00 to $136.00 and gave the company a buy rating in a report on Wednesday, April 21st. Finally, Morgan Stanley boosted their target price on shares of Crown from $122.00 to $129.00 and gave the company an overweight rating in a research note on Thursday, April 22nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $118.40.

Shares of NYSE:CCK opened at $101.78 on Thursday. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.23 and a quick ratio of 0.74. The company has a market cap of $13.73 billion, a PE ratio of 19.46, a P/E/G ratio of 3.00 and a beta of 1.17. The stock’s 50-day moving average price is $103.49. Crown has a 1-year low of $70.10 and a 1-year high of $114.55.

Crown (NYSE:CCK) last announced its quarterly earnings results on Sunday, July 18th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.36. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Crown had a return on equity of 38.77% and a net margin of 5.84%. Crown’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 EPS. Sell-side analysts expect that Crown will post 6.85 EPS for the current fiscal year.

In related news, insider Hock Huat Goh sold 4,625 shares of the stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $109.82, for a total transaction of $507,917.50. Following the completion of the sale, the insider now directly owns 53,607 shares of the company’s stock, valued at approximately $5,887,120.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John W. Conway sold 334 shares of the stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $109.76, for a total value of $36,659.84. Following the sale, the director now directly owns 1,031,377 shares of the company’s stock, valued at $113,203,939.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,095 shares of company stock valued at $1,128,027. 1.90% of the stock is currently owned by company insiders.

About Crown

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

Featured Article: How to interpret the current ratio

Earnings History and Estimates for Crown (NYSE:CCK)

Receive News & Ratings for Crown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown and related companies with MarketBeat.com's FREE daily email newsletter.