Crown (NYSE:CCK) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

Crown (NYSE:CCK – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.250-6.350 for the period, compared to the consensus estimate of 6.150. The company issued revenue guidance of -. Crown also updated its FY24 guidance to $6.25-6.35 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Loop Capital increased their price target on shares of Crown from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Barclays increased their target price on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Citigroup increased their target price on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Crown in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

View Our Latest Stock Report on Crown

Crown Trading Down 0.3 %

Shares of CCK opened at $93.80 on Friday. The stock has a market capitalization of $11.33 billion, a P/E ratio of 27.03, a PEG ratio of 2.19 and a beta of 0.86. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm has a fifty day simple moving average of $91.42 and a two-hundred day simple moving average of $84.23. Crown has a twelve month low of $69.61 and a twelve month high of $96.74.

Crown (NYSE:CCK – Get Free Report) last posted its earnings results on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the company posted $1.68 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Crown will post 6.15 EPS for the current year.

Crown Announces Dividend

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

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 15,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total value of $1,275,450.00. Following the completion of the transaction, the chief executive officer now directly owns 593,678 shares in the company, valued at $50,480,440.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,506 shares of company stock valued at $3,392,349. Company insiders own 0.90% of the company’s stock.

Crown Company Profile

(Get Free Report)

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.

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