Crown Holdings Inc. (NYSE:CCK) announced its quarterly earnings data on Wednesday. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. Crown Holdings had a net margin of 5.34% and a return on equity of 106.65%. The company earned $2.33 billion during the quarter, compared to analyst estimates of $2.39 billion.
Shares of Crown Holdings (NYSE:CCK) traded up 1.39% on Wednesday, reaching $56.76. 1,495,249 shares of the company traded hands. Crown Holdings has a 1-year low of $43.30 and a 1-year high of $57.49. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 17.41 and a beta of 1.32. The company has a 50-day moving average of $55.13 and a 200-day moving average of $53.18.
A number of equities research analysts have commented on CCK shares. Deutsche Bank AG set a $55.00 target price on shares of Crown Holdings and gave the stock a “hold” rating in a research report on Sunday, July 24th. Barclays PLC lifted their target price on shares of Crown Holdings from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 25th. Jefferies Group lifted their target price on shares of Crown Holdings from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Zacks Investment Research raised shares of Crown Holdings from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, RBC Capital Markets started coverage on shares of Crown Holdings in a research report on Thursday, September 29th. They issued an “outperform” rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Crown Holdings currently has an average rating of “Buy” and an average target price of $60.62.
Several hedge funds and other institutional investors have recently bought and sold shares of CCK. Bessemer Group Inc. bought a new position in Crown Holdings during the second quarter worth about $139,000. Point72 Asia Hong Kong Ltd boosted its position in Crown Holdings by 89.9% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,917 shares of the company’s stock worth $148,000 after buying an additional 1,381 shares in the last quarter. Mackenzie Financial Corp boosted its position in Crown Holdings by 3.7% in the second quarter. Mackenzie Financial Corp now owns 4,379 shares of the company’s stock worth $222,000 after buying an additional 157 shares in the last quarter. Tredje AP fonden boosted its position in Crown Holdings by 1,344.7% in the second quarter. Tredje AP fonden now owns 5,490 shares of the company’s stock worth $278,000 after buying an additional 5,110 shares in the last quarter. Finally, Cantab Capital Partners LLP bought a new position in Crown Holdings during the second quarter worth about $292,000. 88.82% of the stock is owned by institutional investors and hedge funds.
Crown Holdings Company Profile
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each Division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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