Crown (NYSE:CCK) Updates Q4 2024 Earnings Guidance

Crown (NYSE:CCK) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.450-1.550 for the period, compared to the consensus earnings per share 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

Several research firms have recently issued reports on CCK. Citigroup boosted their target price on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group dropped their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Barclays boosted their price target on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Crown in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Crown Stock Down 0.3 %

NYSE:CCK traded down $0.24 during trading hours on Thursday, reaching $93.80. 1,402,067 shares of the company traded hands, compared to its average volume of 1,127,190. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The business’s 50-day moving average price is $91.26 and its two-hundred day moving average price is $84.17. Crown has a 1 year low of $69.61 and a 1 year high of $96.74. The stock has a market capitalization of $11.33 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.19 and a beta of 0.86.

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

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given 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 dividend payout ratio (DPR) is currently 28.82%.

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction of $96,173.60. Following the sale, the director now directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,506 shares of company stock worth $3,392,349 in the last three months. Insiders own 0.90% of the company’s stock.

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.