Crown Holdings, Inc. Forecasted to Post Q4 2022 Earnings of $1.83 Per Share (NYSE:CCK)

Crown Holdings, Inc. (NYSE:CCK) – Equities researchers at Truist Securities upped their Q4 2022 earnings per share estimates for shares of Crown in a research report issued on Wednesday, January 12th. Truist Securities analyst M. Roxland now forecasts that the industrial products company will earn $1.83 per share for the quarter, up from their prior estimate of $1.81.

Crown (NYSE:CCK) last issued its earnings results on Sunday, October 24th. The industrial products company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. Crown had a return on equity of 36.22% and a net margin of 5.01%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the firm posted $1.96 EPS. The business’s revenue was up 17.3% compared to the same quarter last year.

A number of other research analysts have also commented on CCK. Truist increased their price objective on Crown from $138.00 to $147.00 in a report on Wednesday. Mizuho began coverage on Crown in a report on Tuesday, October 12th. They set a “buy” rating and a $129.00 price objective on the stock. Barclays began coverage on Crown in a report on Monday, September 20th. They set an “overweight” rating and a $140.00 price objective on the stock. Seaport Res Ptn reissued a “buy” rating on shares of Crown in a report on Wednesday, October 20th. Finally, Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating and set a $118.00 price objective on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $133.00.

Shares of CCK stock opened at $113.13 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.10 and a quick ratio of 0.80. The firm has a market cap of $14.47 billion, a P/E ratio of 25.54, a PEG ratio of 2.85 and a beta of 1.17. The stock’s 50-day moving average is $108.50 and its two-hundred day moving average is $105.92. Crown has a fifty-two week low of $85.65 and a fifty-two week high of $114.55.

Several hedge funds have recently made changes to their positions in the business. Koshinski Asset Management Inc. bought a new stake in shares of Crown in the 4th quarter worth approximately $66,000. McElhenny Sheffield Capital Management LLC raised its holdings in shares of Crown by 0.9% in the 4th quarter. McElhenny Sheffield Capital Management LLC now owns 11,100 shares of the industrial products company’s stock worth $1,228,000 after buying an additional 100 shares in the last quarter. Zeke Capital Advisors LLC raised its holdings in shares of Crown by 2.5% in the 3rd quarter. Zeke Capital Advisors LLC now owns 5,039 shares of the industrial products company’s stock worth $508,000 after buying an additional 123 shares in the last quarter. Mcdonald Partners LLC raised its holdings in shares of Crown by 10.3% in the 3rd quarter. Mcdonald Partners LLC now owns 2,553 shares of the industrial products company’s stock worth $257,000 after buying an additional 238 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Crown by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 698,881 shares of the industrial products company’s stock worth $70,433,000 after buying an additional 26,227 shares in the last quarter. Institutional investors own 87.16% of the company’s stock.

Crown declared that its Board of Directors has initiated a share buyback program on Thursday, December 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 22.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Shareholders of record on Friday, November 12th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. Crown’s dividend payout ratio is currently 18.06%.

Crown Company Profile

Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans; beverage, promotional, and transit packaging; closures and capping; and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.

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Earnings History and Estimates for Crown (NYSE:CCK)

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