Crown (NYSE:CCK) Issues Q4 2024 Earnings Guidance

Crown (NYSE:CCK) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.450-1.550 for the period, compared to the consensus EPS 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 topic of several recent analyst reports. Loop Capital upped their price target on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Crown in a research report on Tuesday, September 24th. Citigroup upped their price objective on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted 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. Finally, Truist Financial upped their price target on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.07.

Crown Stock Down 0.3 %

Shares of NYSE CCK traded down $0.24 during midday trading on Thursday, hitting $93.80. 1,402,067 shares of the company’s stock were exchanged, compared to its average volume of 1,127,190. The firm’s fifty day simple moving average is $91.26 and its 200-day simple moving average is $84.17. The company has a market cap of $11.33 billion, a PE ratio of 27.10, a P/E/G ratio of 2.19 and a beta of 0.86. Crown has a twelve month low of $69.61 and a twelve month high of $96.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. Research analysts predict that Crown will post 6.15 EPS for the current fiscal year.

Crown Dividend Announcement

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

Insider Activity

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now owns 571,178 shares of the company’s stock, valued at $53,119,554. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at approximately $53,119,554. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,506 shares of company stock valued at $3,392,349. 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.