Crown (NYSE:CCK) Updates Q4 2024 Earnings Guidance

Crown (NYSE:CCK) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.450-1.550 for the period, compared to the consensus estimate of 1.800. The company issued revenue guidance of -. Crown also updated its FY 2024 guidance to 6.250-6.350 EPS.

Analyst Ratings Changes

CCK has been the subject of a number of analyst reports. Loop Capital increased their price target on Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Crown in a research report on Tuesday, September 24th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America upped their price target on Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Citigroup lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average target price of $103.07.

Crown Stock Down 0.3 %

NYSE CCK traded down $0.24 on Thursday, reaching $93.80. 1,402,067 shares of the stock traded hands, compared to its average volume of 1,127,190. Crown has a 12 month low of $69.61 and a 12 month high of $96.74. The company has a fifty day moving average price of $91.26 and a 200-day moving average price of $84.17. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.19 and a beta of 0.86. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.73 and a current ratio of 1.05.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. Crown had a return on equity of 23.96% and a net margin of 3.68%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $1.68 EPS. As a group, research analysts forecast that Crown will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio is currently 28.82%.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the sale, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at $50,323,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares of the company’s stock, valued at approximately $50,480,440.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,506 shares of company stock worth $3,392,349. Corporate insiders own 0.90% of the company’s stock.

Crown Company Profile

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.