Crown (NYSE:CCK) Issues FY 2024 Earnings Guidance

Crown (NYSE:CCK) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 5.800-6.200 for the period, compared to the consensus EPS estimate of 5.980. The company issued revenue guidance of -. Crown also updated its FY24 guidance to $5.80-$6.20 EPS.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Crown from $78.00 to $76.00 and set an equal weight rating on the stock in a research note on Thursday, April 11th. JPMorgan Chase & Co. upgraded Crown from a neutral rating to an overweight rating and set a $85.00 target price on the stock in a report on Wednesday, February 7th. Mizuho decreased their price target on Crown from $105.00 to $96.00 and set a buy rating for the company in a research note on Tuesday, February 6th. Wolfe Research initiated coverage on Crown in a research note on Friday, March 1st. They issued an outperform rating and a $102.00 price objective on the stock. Finally, UBS Group initiated coverage on Crown in a research report on Tuesday, January 16th. They set a buy rating and a $112.00 target price for the company. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of Moderate Buy and an average price target of $99.21.

Crown Price Performance

CCK stock traded up $0.45 during trading on Monday, hitting $81.04. The company had a trading volume of 2,064,152 shares, compared to its average volume of 1,228,374. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The company has a fifty day moving average price of $77.43 and a two-hundred day moving average price of $82.59. Crown has a fifty-two week low of $69.61 and a fifty-two week high of $96.35. The company has a market cap of $9.79 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.73 and a beta of 0.91.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.06. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Equities research analysts expect that Crown will post 5.9 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.23%. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio (DPR) is currently 26.60%.

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.