L'intérêt à découvert pour Crown Holdings donne aux investisseurs une idée du degré auquel les investisseurs parient sur la baisse de l'action de Crown Holdings. Les données sur l'intérêt à découvert sont mises à jour toutes les deux semaines.

Crown Holdings (NYSE:CCK) Stock, Rapport sur les intérêts à découvert

Crown Holdings

Crown Holdings is one of the world's largest producers of metal packaging. The company manufactures beverage cans, metal food cans, and closures as well as aerosol cans. With the purchase of Signode, the company also has a presence in a wide variety of protective transport packaging. Although it's headquartered in the United States, the vast majority of Crown's sales come from its operations in Europe, South America, and Southeast Asia.

Crown Holdings Inc

Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-17. Here's what investors need to know before the announcement.
Analysts estimate that Crown Holdings will report an earnings per share (EPS) of $1.80. 
Anticipation surrounds Crown Holdings's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Performance in Previous Earnings</h3>
Last quarter the company beat EPS by $0.23, which was followed by a 8.92% increase in the share price the next day.
Here's a look at Crown Holdings's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.58</td>
<td>0.96</td>
<td>1.43</td>
<td>1.73</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.81</td>
<td>1.02</td>
<td>1.24</td>
<td>1.73</td>
</tr>
<tr>
<td>Price Change %</td>
<td>9.0%</td>
<td>1.0%</td>
<td>-13.0%</td>
<td>6.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729087329_0.png" alt="eps graph" />
<h3>Tracking Crown Holdings's Stock Performance</h3>
Shares of Crown Holdings were trading at $94.1 as of October 15. Over the last 52-week period, shares are up 17.34%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about Crown Holdings</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Crown Holdings.
A total of 13 analyst ratings have been received for Crown Holdings, with the consensus rating being Neutral. The average one-year price target stands at $101.69, suggesting a potential 8.07% upside.
<h3>Comparing Ratings with Competitors</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of AptarGroup, Berry Global Gr and Silgan Hldgs, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The consensus among analysts is an Buy trajectory for AptarGroup, with an average 1-year price target of $200.0, indicating a potential 112.54% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for Berry Global Gr, with an average 1-year price target of $75.0, indicating a potential 20.3% downside.</li>
<li>Analysts currently favor an Outperform trajectory for Silgan Hldgs, with an average 1-year price target of $57.5, suggesting a potential 38.89% downside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
The peer analysis summary offers a detailed examination of key metrics for AptarGroup, Berry Global Gr and Silgan Hldgs, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Crown Holdings</td>
<td>Neutral</td>
<td>-2.22%</td>
<td>$661M</td>
<td>6.99%</td>
</tr>
<tr>
<td>AptarGroup</td>
<td>Buy</td>
<td>1.58%</td>
<td>$342.62M</td>
<td>3.81%</td>
</tr>
<tr>
<td>Berry Global Gr</td>
<td>Neutral</td>
<td>-2.11%</td>
<td>$601M</td>
<td>5.79%</td>
</tr>
<tr>
<td>Silgan Hldgs</td>
<td>Outperform</td>
<td>-3.18%</td>
<td>$256.00M</td>
<td>3.97%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Crown Holdings ranks in the middle for revenue growth among its peers. It has the highest gross profit margin. The company's return on equity is also in the middle compared to its peers. Overall, Crown Holdings is positioned relatively well compared to its peers in terms of financial performance.
<h3>Get to Know Crown Holdings Better</h3>
Crown Holdings is one of the world's largest producers of metal packaging. The company manufactures beverage cans, metal food cans, and closures as well as aerosol cans. With the purchase of Signode, the company also has a presence in a wide variety of protective transport packaging. Although it's headquartered in the United States, the vast majority of Crown's sales come from its operations in Europe, South America, and Southeast Asia.
<h3>Crown Holdings's Financial Performance</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Challenges: Crown Holdings's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -2.22%. This indicates a decrease in top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Crown Holdings's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 5.72%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 6.99%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Crown Holdings's ROA excels beyond industry benchmarks, reaching 1.18%. This signifies efficient management of assets and strong financial health.
Debt Management: Crown Holdings's debt-to-equity ratio is notably higher than the industry average. With a ratio of 3.04, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<a href="https://www.benzinga.com/quote/CCK/earnings">To track all earnings releases for Crown Holdings visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Crown Holdings's Earnings Outlook

Wells Fargo analyst Gabe Hajde maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Equal-Weight and raises the price target from $88 to $97.

News

Price Target

Analyst Ratings

Wells Fargo Maintains Equal-Weight on Crown Holdings, Raises Price Target to $97

Truist Securities analyst Michael Roxland maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Hold and raises the price target from $95 to $103.

Truist Securities Maintains Hold on Crown Holdings, Raises Price Target to $103

Citigroup analyst Anthony Pettinari maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Buy and raises the price target from $100 to $110.

Citigroup Maintains Buy on Crown Holdings, Raises Price Target to $110

RBC Capital analyst Arun Viswanathan reiterates Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Outperform and maintains $105 price target.

Reiteration

RBC Capital Reiterates Outperform on Crown Holdings, Maintains $105 Price Target

Morgan Stanley analyst Pamela Kaufman maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Equal-Weight and raises the price target from $92 to $105.

Morgan Stanley Maintains Equal-Weight on Crown Holdings, Raises Price Target to $105

Applied Industrial Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ait#NYSE">AIT</a>) is scheduled to release fourth-quarter fiscal 2024 (ended June 2024) results on Aug 15, before market open.
The Zacks Consensus Estimate for fiscal fourth-quarter earnings has been unchanged in the past 60 days. The company has an impressive earnings surprise history, having beat the consensus estimate in each of the preceding four quarters, the average surprise being 8.2%.
The consensus estimate for revenues is pegged at $1.19 billion, indicating an increase of 2.5% from the year-ago quarter&#39;s reported figure. The consensus estimate for adjusted earnings is pinned at $2.52 per share, suggesting an increase of 7.2% from the year-ago quarter&#39;s reported figure.
Let&#39;s see how things have shaped up for AIT this earnings season.
<h3>Factors to Note</h3>
A strong market position, sales initiatives and growth across national customer accounts are likely to have supported the Service Center Based Distribution segment. The increase in demand for technical MRO support and fluid power MRO services across the U.S. manufacturing sector, driven by growing digitization and higher investment in maintenance operations, is likely to have aided the segment&#39;s revenues. We expect the segment&#39;s revenues to be $812.4 million, implying an increase of 3.9% from the year-ago number.
Focus on improving the product line, value-added services and initiatives to drive operational excellence are expected to have driven AIT&#39;s top line. Also, the company&#39;s investments to expand automation, industrial Internet of Things and digital offerings like smart vision and mobile robots are likely to have been advantageous.
The September 2023 acquisition of Bearing Distributors and Cangro, which enhanced AIT&#39;s footprint and strategic growth initiatives across the U.S. Southeast and upper Northeast region, is expected to have bolstered its top-line performance. We expect the company&#39;s total revenues to be $1.2 billion, indicating an increase of 2.9% from the year-ago reported figure. Adjusted earnings are expected to be $2.54 per share, indicating a 7.9% increase from the year-ago quarter&#39;s reported number.
However, AIT is expected to have put up a weak show across the Engineered Solutions segment due to a decrease in demand across the OEM channel as a result of the reduced shipment of off-highway mobile and fluid power components.
Rising selling, distribution and administrative expenses, due to higher deferred compensation costs, are likely to have dented Applied Industrial&#39;s bottom line. Also, rising costs of sales, due to an increase in raw material and labor costs, are expected to hurt the company&#39;s results.
<div class="chart_embed">
<h3>Applied Industrial Technologies, Inc. Price and EPS Surprise</h3>
<h3><img alt="Applied Industrial Technologies, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/e2/1723646445.png" style="height:263px; width:545px" title="" /></h3>
Applied Industrial Technologies, Inc. price-eps-surprise | Applied Industrial Technologies, Inc. Quote
</div>
<h3>Earnings Whispers</h3>
Our proven model does not conclusively predict an earnings beat for AIT this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Applied Industrial has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $2.52.
Zacks Rank: Applied Industrial presently carries a Zacks Rank of 2.
<h3>Performances of Other Industrial Companies</h3>
Pentair plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnr#NYSE">PNR</a>) reported second-quarter adjusted earnings per share of $1.22, which beat the Zacks Consensus Estimate of $1.15. The reported figure also improved 18% from the year-ago quarter.&nbsp;
Net sales rose 1.6% year over year to $1.1 billion. PNR&#39;s top line outpaced the Zacks Consensus Estimate of $1.09 billion.
Crown Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cck#NYSE">CCK</a>) reported second-quarter adjusted earnings per share of $1.81, which beat the Zacks Consensus Estimate of $1.59. The bottom line improved 8% year over year.
Net sales totaled $3.04 billion, down 2.2% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $3.06 billion.
A. O. Smith Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aos#NYSE">AOS</a>) second-quarter adjusted earnings of $1.06 per share missed the Zacks Consensus Estimate of $1.07. However, the bottom line increased 5% on a year-over-year basis.
Net sales of $1.02 billion surpassed the consensus estimate of $992 million. The top line increased 7% year over year, driven by the strong demand for residential and commercial water heaters in North America.
<a href="https://www.zacks.com/stock/news/2322188/what-s-in-store-for-applied-industrial-ait-in-q4-earnings?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2322188">To read this article on Zacks.com click here.</a>

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Trading Ideas

What's in Store for Applied Industrial in Q4 Earnings?

Broadwind, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bwen#NASDAQ">BWEN</a>) is expected to release second-quarter 2024 results on Aug 13, after market close.
The company&#39;s earnings beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 95.5%. In the last reported quarter, its earnings of 7 cents per share surpassed the Zacks Consensus Estimate of a loss of 7 cents per share by 200%.
Let&#39;s see how things have shaped up for Broadwind this earnings season.
<h3>Factors Likely to Influence Results</h3>
The Industrial Solutions segment is expected to witness higher revenues on the back of increased gas turbine projects and rising shipments of new and aftermarket gas turbine content. Also, global electricity demand growth has been aiding the segment.
Broadwind&#39;s second-quarter performance is likely to have been aided by an increased order level, driven by strong activity levels from the natural gas turbine market. The company&#39;s focus on expanding its portfolio of industrial fabrications to include new products and increased customer interest from the defense industry are expected to have driven its revenues.
Broadwind has been taking actions to align its cost structure with the current demand environment, which is likely to have aided its margin performance.
However, decreasing demand for wind towers is likely to have impacted the Heavy Fabrications segment&#39;s performance. Reduced shipments for industrial, mining and O&amp;G customers are likely to affect the Gearing segment&#39;s results.
BWEN has considerable exposure to overseas markets. Given its substantial international operations, foreign currency headwinds are likely to have marred its profitability.
The consensus estimate for revenues is pegged at $37 million, indicating a decrease of 26.9% from the year-ago quarter&#39;s number. The consensus estimate for earnings is pegged at breakeven, indicating a decline from earnings of 7 cents per share in the year-earlier quarter.
<div class="chart_embed">
<h3>Broadwind Energy, Inc. Price and EPS Surprise</h3>
<h3><img alt="Broadwind Energy, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/06/1723214606.png" style="height:263px; width:531px" title="" /></h3>
Broadwind Energy, Inc. price-eps-surprise | Broadwind Energy, Inc. Quote
</div>
<h3>Earnings Whispers</h3>
Our proven model does not conclusively predict an earnings beat for BWEN this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: BWEN has an Earnings ESP of 0.00% as both the Most Accurate Estimate and Zacks Consensus Estimate are pegged at breakeven.
Zacks Rank: BWEN presently carries a Zacks Rank of 3.
<h3>Performance of Other Industrial Companies</h3>
Pentair plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnr#NYSE">PNR</a>) reported second-quarter adjusted earnings per share of $1.22, which beat the Zacks Consensus Estimate of $1.15. The reported figure also improved 18% from the year-ago quarter.
Net sales rose 1.6% year over year to $1.1 billion. PNR&#39;s top line outpaced the Zacks Consensus Estimate of $1.09 billion.&nbsp;
Crown Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cck#NYSE">CCK</a>) reported second-quarter adjusted earnings per share of $1.81, which beat the Zacks Consensus Estimate of $1.59. The bottom line improved 8% year over year.
Net sales totaled $3.04 billion, down 2.2% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $3.06 billion.
<h3>A Stock to Consider</h3>
Here is a company within the broader Industrial Products sector, which, according to our model, has the right combination of elements to beat on earnings in this reporting cycle.
Deere &amp; Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/de#NYSE">DE</a>) has an Earnings ESP of +0.18% and a Zacks Rank of 3 at present. It is slated to release third-quarter fiscal 2024 (ended July 2024) results on Aug 15.
Deere&#39;s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 16%.
<a href="https://www.zacks.com/stock/news/2320233/broadwind-bwen-gears-up-to-report-q2-earnings-what-to-expect?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2320233">To read this article on Zacks.com click here.</a>

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Small Cap

BWEN

Broadwind Gears Up to Report Q2 Earnings: What to Expect

The Middleby Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/midd#NASDAQ">MIDD</a>) reported second-quarter 2024 adjusted earnings of $2.39 per share, which beat the Zacks Consensus Estimate of $2.27. The bottom line decreased 3.6% year over year due to lower sales.
Net sales of $992 million beat the consensus estimate of $989 million. The top line dipped 4.7% year over year. Organic revenues decreased 4.8%. Acquired assets boosted sales by 0.3% while movements in foreign currencies had a negative impact of 0.2%.
<h3>Segmental Results</h3>
Sales from the Commercial Foodservice Equipment Group segment (representing 62.5% of net sales) were $619.4 million, down 4.1% year over year. Our estimate was $624.7 million. Organic sales decreased 3.9%. Buyouts had a positive impact of 0.1% while adverse foreign-currency translation lowered sales by 0.2%.
Sales from the Residential Kitchen Equipment Group segment (19.4%) totaled $192.8 million, down 6.2% year over year. Our estimate was $186.9 million. Organic sales plunged 6.7%. Buyouts boosted sales by 0.5%.
Sales from the Food Processing Equipment Group segment (18.1%) summed $179.4 million, down 4.9% year over year. We expected the metric to be $177.3 million. Organic sales decreased 5.7% year over year. Acquisitions boosted sales by 1% while foreign currency movements had an unfavorable impact of 0.3%.
<div class="chart_embed">
<h3>The Middleby Corporation Price and EPS Surprise</h3>
<h3><img alt="The Middleby Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/eb/1722611591.png" style="height:263px; width:545px" title="" /></h3>
The Middleby Corporation price-eps-surprise | The Middleby Corporation Quote
</div>
<h3>Margin Profile</h3>
Middleby&#39;s cost of sales decreased 5.4% year over year to $611.9 million. Gross profit fell 3.5% to $379.6 million. The gross margin increased to 38.3% from 37.8% in the year-ago quarter.
Selling, general and administrative expenses decreased 2.4% year over year to $198.6 million. Operating income declined 4.9% year over year to $175.7 million. Operating margin decreased 10 basis points (bps) to 17.7%.
Adjusted EBITDA declined 5.6% year over year to $216.4 million. Adjusted EBITDA margin fell 20 bps to 21.8%.
<h3>Balance Sheet and Cash Flow</h3>
Exiting the second quarter, Middleby had cash and cash equivalents of $459.5 million compared with $247.5 million at the end of December 2023. Long-term debt was $2.36 billion at the end of the second quarter compared with $2.38 billion at 2023-end.
In the first six months of 2024, Middleby generated net cash of $290.4 million from operating activities compared with $154 million a year ago. Capital expenditure totaled $24.7 million compared with $48.3 million in the prior-year quarter. Free cash flow was $265.7 million in the first six months of the year compared with $105.6 million in the year-earlier quarter.
<h3>Zacks Rank</h3>
The company currently carries a Zacks Rank #3 (Hold).
<h3>Performance of Other Industrial Companies</h3>
Pentair plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnr#NYSE">PNR</a>) reported second-quarter adjusted earnings per share of $1.22, which beat the Zacks Consensus Estimate of $1.15. The reported figure also improved 18% from the year-ago quarter.
Net sales rose 1.6% year over year to $1.1 billion. PNR&#39;s top line outpaced the Zacks Consensus Estimate of $1.09 billion.&nbsp;
Crown Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cck#NYSE">CCK</a>) reported second-quarter adjusted earnings per share of $1.81, which beat the Zacks Consensus Estimate of $1.59. The bottom line improved 8% year over year.
Net sales totaled $3.04 billion, down 2.2% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $3.06 billion.
A. O. Smith Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aos#NYSE">AOS</a>) second-quarter adjusted earnings of $1.06 per share missed the Zacks Consensus Estimate of $1.07. However, the bottom line increased 5% on a year-over-year basis.
Net sales of $1.02 billion surpassed the consensus estimate of $992 million. The top line increased 7% year over year, driven by strong demand for residential and commercial water heaters in North America.
<a href="https://www.zacks.com/stock/news/2315537/middleby-midd-q2-earnings-beat-estimates-sales-down-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2315537">To read this article on Zacks.com click here.</a>

MIDD

Middleby Q2 Earnings Beat Estimates, Sales Down Y/Y

Crown Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) short percent of float has risen 11.48% since its last report. The company recently reported that it has 2.65 million shares sold short, which is 2.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.65 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Crown Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722366018_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Crown Holdings has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Crown Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Crown Holdings's peer group average for short interest as a percentage of float is 3.41%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Crown Holdings's Recent Short Interest

Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) announced today that its Board of Directors authorized the repurchase of an aggregate amount of up to $2.0 billion of Company stock through the end of 2027. The new authorization, which supersedes the previous authorization announced on December 9, 2021, reflects the Company's strong balance sheet and cash from operations, allowing investment in the business and return of cash to its shareholders.&nbsp;

Buybacks

Crown Holdings Authorizes $2B Share Repurchase Program Through The End Of 2027, Superseding The Previous Authorization Announced On December 9, 2021

RBC Capital analyst Arun Viswanathan maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Outperform and raises the price target from $96 to $105.

RBC Capital Maintains Outperform on Crown Holdings, Raises Price Target to $105

Citigroup analyst Anthony Pettinari maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Buy and raises the price target from $94 to $100.

Citigroup Maintains Buy on Crown Holdings, Raises Price Target to $100

Allegion plc&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alle#NYSE">ALLE</a>) second-quarter 2024 adjusted earnings of $1.96 per share beat the Zacks Consensus Estimate of $1.77. The bottom line increased 11.4% year over year.
<h3>Revenue Details</h3>
Allegion&#39;s revenues were $965.6 million, which increased 5.8% year over year. Organic revenues increased 5.2% driven by price realization and volume growth. The company&#39;s revenues beat the Zacks Consensus Estimate of $944 million.
Acquired assets boosted revenues by 0.9%. Forex woes left a negative impact of 0.3% on revenues.
ALLE reports revenues under two segments. A brief discussion of quarterly results is provided below:
Revenues from Allegion Americas increased 6% year over year to $770.7 million. The figure accounted for 79.8% of the quarter&#39;s revenues. Our estimate for segmental revenues was $751.4 million.
Operating income for the segment was $214.3 million, up 9.7% year over year. Our estimate was $226.0 million.
Revenues from Allegion International were $194.9 million, up 5.2% year over year. The metric accounted for 20.2% of the quarter&#39;s revenues. Our estimate for segmental revenues was $192.9 million.
Segmental operating income was $17.7 million, up 27.3% year over year. Our estimate was $22.1 million.
<div class="chart_embed">
<h3>Allegion PLC Price, Consensus and EPS Surprise</h3>
<h3><img alt="Allegion PLC Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/33/1721833859.png" style="height:265px; width:584px" title="" /></h3>
Allegion PLC price-consensus-eps-surprise-chart | Allegion PLC Quote
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<h3>Margin Profile</h3>
In the reported quarter, Allegion&#39;s cost of revenues increased 5.2% year over year to $537.3 million. Gross profit was $428.3 million, up 6.6% year over year, while the gross margin jumped 40 basis points (bps) to 44.4%.
Selling and administrative expenses inched up approximately 1% year over year to $219.3 million. Adjusted EBITDA was $236.5 million, reflecting a year-over-year increase of 10.5%. The margin grew 130 bps year over year to 30.7%.
Adjusted operating income increased 12.8% year over year to $228.6 million. The adjusted margin was 23.7%, up 150 bps. Interest expenses were $25.1 million, up 5.9% year over year. The effective tax rate was 17.8%, up from 12.6% in the year-ago quarter.
<h3>Balance Sheet and Cash Flow</h3>
While exiting the second quarter, Allegion had cash and cash equivalents of $747.5 million compared with $468.1 million at the end of fourth-quarter 2023. Long-term debt was $2 billion compared with $1.6 billion at the end of fourth-quarter 2023.
In the first six months of 2024, ALLE generated net cash of $224.1 million from operating activities, reflecting a decrease of 2.6% year over year. Capital expenditure was $48.1 million, up 20.3% year over year. The available cash flow was $176 million.
Allegion repurchased shares for $80 million. Dividends paid out totaled $83.8 million, reflecting an increase of 5.7% year over year.
<h3>2024 Outlook Raised</h3>
ALLE now expects revenues to increase 2.5-3.5% from the year-ago levels compared with 1.5-3.5% increase anticipated earlier. The company anticipates organic revenues to grow in the range of 1.5-2.5%.
Management projects earnings of $6.50-$6.65 per share on a reported basis compared with the prior expected range of $6.45-$6.60. Adjusted earnings are projected to be in the range of $7.15-$7.30 per share compared with the prior expected range of $7.00-$7.15. The consensus estimate for earnings is pegged at $7.09 per share.
The company estimates available cash flow to be in the range of $540-$570 million. The adjusted effective tax rate is estimated in the 18-19% band.
<h3>Zacks Rank</h3>
The company currently carries a Zacks Rank #2 (Buy).
<h3>Performance of Other Industrial Companies</h3>
Pentair plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnr#NYSE">PNR</a>) reported second-quarter adjusted earnings per share of $1.22, which beat the Zacks Consensus Estimate of $1.15. The reported figure also improved 18% from the year-ago quarter.
Net revenues rose 1.6% year over year to $1.1 billion. PNR&#39;s top line outpaced the Zacks Consensus Estimate of $1.09 billion.&nbsp;
Crown Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cck#NYSE">CCK</a>) reported second-quarter adjusted earnings per share of $1.81, which beat the Zacks Consensus Estimate of $1.59. The bottom line improved 8% year over year.
Net revenues totaled $3.04 billion, down 2.2% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $3.06 billion.
A. O. Smith Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aos#NYSE">AOS</a>) second-quarter adjusted earnings of $1.06 per share missed the Zacks Consensus Estimate of $1.07. However, the bottom line increased 5% on a year-over-year basis.
Net revenues of $1.02 billion surpassed the consensus estimate of $992 million. The top line increased 7% year over year, driven by strong demand for residential and commercial water heaters in North America.
<a href="https://www.zacks.com/stock/news/2308187/allegion-alle-q2-earnings-top-estimates-revenues-up-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2308187">To read this article on Zacks.com click here.</a>

Dividends

ALLE

Allegion Q2 Earnings Top Estimates, Revenues Up Y/Y

Morgan Stanley analyst Pamela Kaufman maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Equal-Weight and raises the price target from $89 to $92.

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B of A Securities analyst George Staphos maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Buy and raises the price target from $98 to $102.

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Wells Fargo analyst Gabe Hajde maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Equal-Weight and raises the price target from $85 to $88.

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Loop Capital analyst Alton Stump maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Buy and raises the price target from $106 to $120.

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Truist Securities analyst Michael Roxland maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Hold and raises the price target from $88 to $95.

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Growing demand for eco-friendly products and sustainable packaging presents a significant opportunity for companies that prioritize these solutions. Therefore, scooping up the shares of fundamentally sound sustainable packaging stocks, such as Packaging Corp of America (PKG), Crown Holdings (CCK), and Sonoco Products Co. (SON), could be beneficial. Read more... As the world increasingly shifts away from single-use plastics, the demand for sustainable packaging solutions is rising fast. Consumers and businesses are now more conscious than ever about the environmental impact of their choices, leading to a growing emphasis on eco-friendly packaging alternatives.
Given this backdrop, it could be wise to consider investing in three fundamentally sound sustainable packaging stocks such as Packaging Corporation of America (<a href="https://stocknews.com/stock/PKG/">PKG</a>), Crown Holdings, Inc. (<a href="https://stocknews.com/stock/CCK/">CCK</a>), and Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>).
With visions of sea turtles tangled in plastic and whales suffering from ingested waste, it's no surprise that consumers are increasingly turning away from traditional plastics. Their attention has shifted toward more sustainable, environmentally friendly packaging solutions, including biodegradable materials, recyclable packaging, and minimalistic designs that reduce waste.
This shift is driving the rapid growth of sustainable packaging, with many companies committing to 100% recycled materials in the coming years. Moreover, consumers are increasingly willing to pay a premium for products with sustainable packaging, with nearly <a href="https://www.smashbrand.com/articles/consumer-demand-for-sustainable-packaging-is-on-the-rise/#:~:text=Sustainable%20packaging%20has%20been%20one,)%20of%206%25%20through%202027.">70% stating they'd spend more</a> on such options.
This rising demand presents a promising opportunity for companies prioritizing sustainable packaging to capture a larger market share. The global sustainable packaging market size is forecasted to nearly double, reaching $490.73 billion by 2032, growing at a <a href="https://www.towardspackaging.com/insights/sustainable-packaging-market-sizing#:~:text=Global%20sustainable%20packaging%20sector%20starting,period%20from%202023%20to%202032.">CAGR of 6.6%</a> from 2023 to 2032.
Considering these factors, let's evaluate the <a href="https://stocknews.com/category/industrial-packaging/">Industrial – Packaging</a> stocks in detail, starting with the third choice:
Stock #3: Crown Holdings, Inc. (<a href="https://stocknews.com/stock/CCK/">CCK</a>)
CCK operates globally in the packaging industry through four segments: Americas Beverage; European Beverage; Asia Pacific; and Transit Packaging. The company produces and sells recyclable aluminum beverage cans and ends, aerosol cans, glass bottles, steel crowns, and closures.
On July 29, 2024, CCK announced that its Board of Directors approved a stock repurchase program of up to $2.0 billion, set to run through the end of 2027.
The management views this buyback as a key component of their longer-term capital allocation strategy, which focuses on investing in growth, returning capital to shareholders, and reducing debt. The goal is to lower the company's net leverage to 2.5 times.
Buoyed by its strong financial performance, the company declared a quarterly <a href="https://www.investopedia.com/terms/d/dividend.asp">dividend</a> of $0.25 per share, payable to its shareholders on August 29, 2024. CCK pays an annual dividend of $1, which translates to a yield of 1.14% at the current share price. Moreover, the company's dividend payouts have increased at an impressive CAGR of 34.8% over the past three years.
CCK's net sales for the fiscal second quarter that ended June 30, 2024, amounted to $3.04 billion, while its income from operations stood at $379 million, up 3.3% over the prior-year quarter. The company's adjusted net income and earnings per share increased by 8% and 7.7% year-over-year to $217 million and $1.81, respectively.
Street expects CCK's revenue for the third quarter (ending September 2024) to increase marginally year-over-year to $3.08 billion. Its EPS for the third quarter is expected to grow by 4.4% from the previous year, settling at $1.81.
The stock has gained 17.4% over the past month to close the last trading session at $87.36.
CCK's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
CCK has a B grade for Growth, Momentum, and Sentiment. It is ranked #6 out of 19 stocks in the B-rated <a href="https://stocknews.com/category/industrial-packaging/">Industrial – Packaging</a> industry. <a href="https://stocknews.com/stock/CCK/">Click here</a> to access the other CCK ratings for Value, Stability, and Quality.
Stock #2: Packaging Corporation of America (<a href="https://stocknews.com/stock/PKG/">PKG</a>)
With a market cap of $17.72 billion, PKG manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging; Paper; and Corporate and Other.
On June 15, the company paid its shareholders a quarterly dividend of $1.25 per share. With 13 years of consecutive dividend growth, PKG pays an annual dividend of $5, which translates to a yield of 2.53% at the current share price. Moreover, the company's dividend payouts have increased at a CAGR of 9.6% over the past five years.
For the second quarter of 2024, which ended on June 30, PKG's net sales increased 6.3% year-over-year to $2.08 billion, while its income from operations amounted to $276 million. The company's non-GAAP net income and EPS for the quarter stood at $198.60 million and $2.20, respectively. Also, its cash, cash equivalents, and market debt securities grew 86.3 % from the year-ago value to $1.17 billion.
The consensus revenue estimate of $2.10 billion for the fiscal third quarter (ending September 2024) represents an 8.5% increase year-over-year. The consensus EPS estimate of $2.48 for the ongoing quarter indicates a 20.8% improvement year-over-year. The company has an excellent earnings surprise history; it surpassed the consensus EPS estimates in each of the trailing four quarters.
PKG shares have surged 30.4% over the past nine months and 21.4% year-to-date to close the last trading session at $197.74.
PKG's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Quality and a B for Momentum and Stability. Within the same industry, PKG is ranked #5. <a href="https://stocknews.com/stock/PKG/">Click here</a> to see the additional ratings for PKG (Growth, Value, and Sentiment).
Stock #1: Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>)
SON designs, develops, manufactures, and sells various engineered and sustainable packaging products across North and South America, Europe, Australia, and Asia. With a market cap of $5.22 billion, the company operates through two segments: Consumer Packaging and Industrial Paper Packaging. 
On July 17, the company declared a quarterly common stock dividend of $0.52 per share, payable on September 10, 2024, to shareholders of record as of August 9, 2024.
SON's annual dividend of $2.08 translates to a 3.91% yield on the prevailing prices, while its four-year average dividend yield is 3.20%. Its dividend payouts have grown at CAGRs of 5.2% and 4.3% over the past three and five years, respectively. Also, SON has a record of 41 years of consecutive dividend growth.
On June 24, SON agreed to acquire Eviosys, Europe's leading food cans, ends, and closures manufacturer, for approximately $3.9 billion. This acquisition aligns with the company's strategy to focus on and scale its core businesses and invest in high-return opportunities.
With this move, SON will become the global leader in metal food can and aerosol packaging manufacturing. Additionally, the company expects to achieve over $100 million in synergies from the integration of Eviosys with its existing metal can business.
For the fiscal first quarter that ended March 31, 2024, SON's net sales amounted to $1.64 billion, while its gross profit stood at $337.55 million. Its adjusted attributable net income and earnings per share for the quarter amounted to $111.49 million and $1.12, respectively.
The company's net cash from operating activities increased 69.6% year-over-year to $166.24 million. As of March 31, 2024, its cash and cash equivalents increased to $172.21 million from $151.94 million recorded as of December 31, 2023.
Analysts expect SON's revenue and EPS for the third quarter (ending September 2024) to increase marginally year-over-year to $1.74 billion and $1.46, respectively. Over the past nine months, the stock has gained 3.7%, closing the last trading session at $53.19.
It's no surprise that SON has an overall rating of B, equating to a Buy in our POWR Ratings system. It also has a B grade for Value, Momentum, and Stability. It is ranked #3 out of 19 stocks in the same B-rated industry.
Beyond what is stated above, we've also rated SON for Growth, Sentiment, and Quality. Get all SON ratings <a href="https://stocknews.com/stock/SON/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
PKG shares were trading at $199.00 per share on Wednesday morning, up $1.26 (+0.64%). Year-to-date, PKG has gained 23.82%, versus a 16.65% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/pkg-cck-son-3-sustainable-packaging-stocks-to-buy/>3 Sustainable Packaging Stocks to Buy</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Sustainable Packaging Stocks to Buy

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