Crown Holdings, Inc. (NYSE:CCK) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. Crown Holdings had a net margin of 5.99% and a return on equity of 83.94%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $0.69 EPS. Crown Holdings’s revenue for the quarter was up .4% compared to the same quarter last year. Crown Holdings updated its Q2 guidance to $1.05-1.15 EPS and its FY17 guidance to $3.80-4.00 EPS.

Shares of Crown Holdings (NYSE:CCK) opened at 54.75 on Friday. Crown Holdings has a 12-month low of $48.04 and a 12-month high of $57.49. The stock has a 50 day moving average of $53.35 and a 200 day moving average of $53.74. The stock has a market capitalization of $7.58 billion, a P/E ratio of 15.38 and a beta of 1.35.

Earnings History for Crown Holdings (NYSE:CCK)

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A number of brokerages have issued reports on CCK. Credit Suisse Group AG set a $60.00 price target on shares of Crown Holdings and gave the company a “hold” rating in a research note on Saturday, February 4th. Jefferies Group LLC restated a “buy” rating and set a $62.00 price target on shares of Crown Holdings in a research note on Sunday, April 2nd. Zacks Investment Research lowered shares of Crown Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Citigroup Inc restated a “buy” rating and set a $63.00 price target (up previously from $62.00) on shares of Crown Holdings in a research note on Friday, April 14th. Finally, BMO Capital Markets restated a “buy” rating and set a $65.00 price target on shares of Crown Holdings in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.78.

In other Crown Holdings news, insider Thomas A. Kelly sold 40,000 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $53.18, for a total transaction of $2,127,200.00. Following the sale, the insider now directly owns 115,256 shares in the company, valued at approximately $6,129,314.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of Crown Holdings by 26.4% in the third quarter. Lazard Asset Management LLC now owns 6,333,013 shares of the industrial products company’s stock valued at $361,551,000 after buying an additional 1,322,109 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Crown Holdings by 73.0% in the third quarter. Victory Capital Management Inc. now owns 2,719,924 shares of the industrial products company’s stock valued at $155,280,000 after buying an additional 1,147,322 shares during the last quarter. Perkins Investment Management LLC raised its stake in shares of Crown Holdings by 4.7% in the third quarter. Perkins Investment Management LLC now owns 1,955,675 shares of the industrial products company’s stock valued at $111,649,000 after buying an additional 88,322 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Crown Holdings by 90.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,424,900 shares of the industrial products company’s stock valued at $74,907,000 after buying an additional 675,200 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Crown Holdings by 1.7% in the third quarter. BlackRock Fund Advisors now owns 1,404,357 shares of the industrial products company’s stock valued at $80,175,000 after buying an additional 23,913 shares during the last quarter. Institutional investors own 90.76% of the company’s stock.

About Crown Holdings

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.

5 Day Chart for NYSE:CCK

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