Crown Holdings (CCK) Releases Earnings Results, Beats Expectations By $0.03 EPS

Crown Holdings (CCK) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. CCK said it had a profit of $1.33 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.30. The company posted revenue of $2326.00 million in the period, compared to analysts expectations of $2391.23 million. CCK’s revenue was down -5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS.

Many Wall Street Analysts have commented on Crown Holdings. RBC Capital Mkts Initiated Crown Holdings on Sep 30, 2016 to “Outperform”, Price Target of the shares are set at $65.

Crown Holdings opened for trading at $55.62 and hit $56 on the upside on Friday, eventually ending the session at $55.26, with a gain of 0.13% or 0.07 points. The heightened volatility saw the trading volume jump to 5,33,518 shares. Company has a market cap of $7,719 M.

In a different news, on May 27, 2016, Robert H Jr Bourque (President – Asia Pacific Div.) sold 715 shares at $52.41 per share price. According to the SEC, on May 19, 2016, David A. Beaver (VP and Corporate Controller) sold 1,000 shares at $53.31 per share price. On May 16, 2016, Jozef Salaerts (Former Pres – Asia Pacific Div) sold 1,500 shares at $54.61 per share price, according to the Form-4 filing with the securities and exchange commission.

Crown Holdings Inc. is engaged in 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. Within the Americas Division the Company operates Americas Beverage and North America Food. Within the European Division the Company operates European Beverage and European Food. The Company’s Asia Pacific Division consists of beverage can operations and also includes the Company’s non-beverage can operations such as food cans and specialty packaging. The Company also operates European aerosol and specialty packaging business its North American aerosol can business and its tooling and equipment operations in the United States and United Kingdom. The Company’s products include steel and aluminum cans for food beverage household and other consumer products and metal vacuum closures and caps.

Crown Holdings

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