Crown (NYSE:CCK) Issues 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.

Analysts Set New Price Targets

CCK has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Crown in a report on Tuesday, September 24th. Loop Capital raised their price target on Crown from $106.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Citigroup raised their price target on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Crown from $88.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, UBS Group cut their price target on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.07.

Crown Price Performance

NYSE:CCK opened at $93.80 on Friday. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 2.19 and a beta of 0.86. Crown has a 1 year low of $69.61 and a 1 year high of $96.74. The business has a 50 day simple moving average of $91.42 and a 200-day simple moving average of $84.23. 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 issued its quarterly earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company earned $1.68 EPS. Crown’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Crown will post 6.15 EPS for the current year.

Crown Dividend Announcement

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

Insider Buying and Selling

In related news, Director James H. Miller sold 1,006 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents 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.