Crown Holdings, Inc. Forecasted to Earn Q2 2024 Earnings of $1.56 Per Share (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK - Free Report) - Equities researchers at Zacks Research upped their Q2 2024 earnings per share estimates for Crown in a report released on Tuesday, April 2nd. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings of $1.56 per share for the quarter, up from their previous estimate of $1.55. The consensus estimate for Crown's current full-year earnings is $5.91 per share. Zacks Research also issued estimates for Crown's Q2 2025 earnings at $1.70 EPS, Q3 2025 earnings at $1.85 EPS, Q4 2025 earnings at $1.60 EPS and FY2025 earnings at $6.46 EPS.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada cut their price objective on Crown from $110.00 to $97.00 and set an "outperform" rating for the company in a research report on Thursday, February 8th. Wells Fargo & Company cut their price objective on Crown from $93.00 to $78.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 7th. Wolfe Research began coverage on shares of Crown in a research note on Friday, March 1st. They set an "outperform" rating and a $102.00 target price on the stock. Morgan Stanley began coverage on shares of Crown in a research note on Monday, March 18th. They set an "equal weight" rating and a $87.00 target price on the stock. Finally, Mizuho cut their target price on shares of Crown from $105.00 to $96.00 and set a "buy" rating on the stock in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Crown has an average rating of "Moderate Buy" and an average price target of $99.36.

Crown Price Performance

Shares of NYSE:CCK traded up $0.07 on Thursday, reaching $77.49. 584,480 shares of the company traded hands, compared to its average volume of 1,243,958. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company's 50 day moving average is $78.55 and its 200-day moving average is $83.65. The stock has a market capitalization of $9.36 billion, a PE ratio of 20.76, a P/E/G ratio of 2.64 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 13th. This is an increase from Crown's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. Crown's dividend payout ratio is 26.60%.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company's stock in a transaction on Monday, January 8th. The shares were sold at an average price of $90.96, for a total value of $682,200.00. Following the transaction, the chief executive officer now directly owns 651,264 shares of the company's stock, valued at $59,238,973.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown

A number of large investors have recently bought and sold shares of CCK. Fairfield Bush & CO. bought a new stake in shares of Crown in the first quarter valued at about $143,000. US Bancorp DE boosted its stake in Crown by 9.6% in the first quarter. US Bancorp DE now owns 3,506 shares of the industrial products company's stock valued at $439,000 after acquiring an additional 308 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in Crown by 30.3% in the first quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company's stock valued at $359,000 after acquiring an additional 666 shares during the last quarter. MetLife Investment Management LLC bought a new position in Crown in the first quarter valued at approximately $392,000. Finally, Great West Life Assurance Co. Can boosted its stake in Crown by 43.6% in the first quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company's stock valued at $8,318,000 after acquiring an additional 19,046 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

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.