Crown Holdings (NYSE:CCK) Stock, Quote.Headers.trade-ideas

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.

Wall Street

Analyst Color

Equities

Sector ETFs

Broad U.S. Equity ETFs

Treasuries

Econ #s

Markets

Tech

ETFs

$BTC

ALLY

SPDR Dow Jones Industrial Average ETF Trust

FITB

Market Vectors ETF Trust Market Vectors Gold Miners

ISRG

NFLX

Wall Street was in positive territory in Friday midday trading, buoyed by upbeat quarterly earnings reports that kept investor sentiment bullish.

Stocks Rise, Netflix Soars To Record Highs, Oil Falls Below $70, Gold Miners Rally: What&#39;s Driving Markets Friday?

StockMarket.Up.Shutterstock

Large Cap

Macro Economic Events

Bonds

Eurozone

Commodities

Forex

Retail Sales

Small Cap

Economics

Federal Reserve

ASML

AVGO

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

HBAN

LSCC

NVDA

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

STLD

iShares Trust Barclays 20+ Year Treasury Bond Fund

A semiconductor rally pushed the S&amp;P 500 to new all-time highs on Thursday, with strong earnings from Taiwan Semiconductor Manufacturing Co. Ltd.

Chipmakers Rally, Nvidia Smashes Records On TSMC Blowout Earnings, Gold Hits All-Time Highs: What&#39;s Driving Markets Thursday?

Premarket Data

Earnings

News

Futures

Previews

Pre-Market Outlook

Movers

Trading Ideas

EXPE

LCID

UBER

WDFC

Technology stocks, specifically chipmakers, could lead from the front on Thursday as a stellar third-quarter earnings report from Taiwan Semiconductor Manufacturing Company Ltd.

Wall Street Poised To Open Higher As TSMC Earnings Expected To Kick Off Rally In Tech Stocks: Strategist Says AI Trade Will Have Legs Even In Case Of Recession In 2025

Crown Holdings Inc

Clicks Group Ltd

&nbsp;Following&nbsp;the&nbsp;closing&nbsp;today&nbsp;of&nbsp;the&nbsp;previously&nbsp;announced sale of Eviosys to Sonoco Products Company, Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) (Crown) will receive net cash proceeds&nbsp;of approximately&nbsp;$300&nbsp;million&nbsp;in&nbsp;return&nbsp;for&nbsp;its remaining equity&nbsp;stake of approximately 20%.

Asset Sales

Crown Holdings To Receive ~$300M In Proceeds From Closing Of Eviosys Sale To Sonoco Products Company

Crown Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) short percent of float has risen 15.09% since its last report. The company recently reported that it has 2.74 million shares sold short, which is 2.44% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.55 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/2024/1732720521_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 3.67%, 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

How Is The Market Feeling About Crown Holdings?

Crown Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) short percent of float has fallen 3.15% since its last report. The company recently reported that it has 2.42 million shares sold short, which is 2.15% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.03 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/2024/1730224817_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 declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less 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 3.50%, 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.

Looking Into Crown Holdings's Recent Short Interest

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 $105 to $113.

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on Crown Holdings, Raises Price Target to $113

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 $120 to $129.

Loop Capital Maintains Buy on Crown Holdings, Raises Price Target to $129

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 $97 to $105.

Wells Fargo Maintains Equal-Weight on Crown Holdings, Raises Price Target to $105

Barclays analyst Michael Leithead maintains Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) with a Overweight and raises the price target from $100 to $112.

Barclays Maintains Overweight on Crown Holdings, Raises Price Target to $112

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 $105 to $109.

Morgan Stanley Maintains Equal-Weight on Crown Holdings, Raises Price Target to $109

Baird analyst Ghansham Panjabi 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 $100 to $110.

Baird Maintains Outperform on Crown Holdings, Raises Price Target to $110

Wall Street was in positive territory in Friday midday trading, buoyed by upbeat quarterly earnings reports that kept <a href="https://www.benzinga.com/markets">investor sentiment bullish.</a>
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) surged 10% to fresh record highs after delivering a strong earnings beat. The tech-heavy Nasdaq 100 rose 0.8%, pushing its weekly performance into positive territory for the sixth consecutive week.
The S&amp;P 500 and Dow also edged higher, both on track for the sixth straight week of gains, with the Dow flirting with all-time highs.
Gold miners led industry performance as gold prices hit new record levels above $2,700 per ounce. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) soared over 4%, hitting the highest level in over four years. Friday is poised to mark the fourth straight session of gains for both gold and silver, with silver jumping over 3%, heading for its best day since late September.
West Texas Intermediate (WTI) crude prices tumbled more than 2%, slipping below the $70-per-barrel mark. WTI is down over 8% for the week, on pace for its worst weekly decline since January.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.8% to above $68,800.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,352.25</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,870.75</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,300.82</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.45</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.5% to $585.12.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% higher to $433.01.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.8% to $495.21.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $226.03.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.9%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.6%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Stocks moving in reaction to earnings reports were Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), up over 9%, Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), up over 4%, Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), down 6%, American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 2.4%, Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) down 0.4%, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) down 3.3%, Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), down 1.7%, Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), down 1% and Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), up 4%. </li>
<li>Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) soared 10% following a report indicating that activist investor&nbsp;Jana Partners&nbsp;has built a 5% stake in the company.</li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) fell over 6% after the company replaced its CEO and cut its third-quarter outlook.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">Netflix &#8216;Should Continue To Outperform&#8217;: 6 Analysts On Streaming Stock&#8217;s Q3 Earnings</a></li>
</ul>
Photo via Shutterstock.

Stocks Rise, Netflix Soars To Record Highs, Oil Falls Below $70, Gold Miners Rally: What's Driving Markets Friday?

WIIM

Crown Holdings shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results and issued FY24 EPS guidance above estimates.

Outlook The Company now projects full-year adjusted diluted earnings per share in the range of $6.25 to $6.35 compared to previous guidance of $6.00 to $6.25.&nbsp; After deducting the $100 million pension contribution made during the third quarter, adjusted free cash flow for the year is still expected to be at least $750 million with no more than $450 million of capital spending.
Fourth quarter adjusted diluted earnings per share are expected to be in the range of $1.45 to $1.55.

Guidance

Crown Holdings Sees Q4 EPS $1.45-$1.55 Vs $1.51 Est.; Raises FY24 EPS Guidance Range From $6.00-$6.25 To $6.25-$6.35 Vs $6.15 Est.

Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) reported quarterly earnings of $1.99 per share which beat the analyst consensus estimate of $1.80 by 10.56 percent. This is a 15.03 percent increase over earnings of $1.73 per share from the same period last year. The company reported quarterly sales of $3.07 billion which met the analyst consensus estimate. This is a 0.16 percent increase over sales of $3.07 billion the same period last year.

Earnings Beats

Crown Holdings Q3 Adj $1.99 Beats $1.80 Estimate, Sales $3.07B Inline

A semiconductor rally pushed the S&amp;P 500 to new all-time highs on Thursday, with strong earnings from Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) boosting tech sentiment after a weak report from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41383732/stock-of-the-day-taiwan-semiconductor-breaks-out-as-buyers-push-prices-higher">earlier in the week.</a>
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) jumped 2.3%, leading sector gains. NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit fresh record highs, reaching $141 per share during the morning session.
The Nasdaq 100 outperformed major indices, while small caps underperformed as the Russell 2000 faced resistance at a key technical level. The Dow briefly touched a record high of 43,289 points before pulling back slightly.
On the macro front, September retail sales exceeded expectations, and jobless claims fell last week, reinforcing views of strong economic resilience. However, this also slightly hit hopes for Fed rate cuts as economists voiced doubts about the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41386234/strong-september-retail-sales-put-feds-next-move-in-doubt-interest-rate-cuts-are-">need for further easing in November.</a>
The U.S. dollar strengthened, with the dollar index (DXY) climbing to levels last seen in early August. The euro fell 0.4% as the European Central Bank cut interest rates amid weak economic data and ongoing disinflation.
Gold prices, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.5%, setting new records despite rising Treasury yields. The 10-year Treasury yield gained 8 basis points to 4.10%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slid 1.6%, marking its worst session since early August.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.4%, taking a breather after four consecutive sessions of gains.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,304.26</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,865.46</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,231.61</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.25</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $584.45.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.4% higher to $432.52.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 0.7% to $494.15.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $226.02.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1%. The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.5%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Semiconductor stocks rallying Thursday on the heels of strong TSM earnings were Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), up 4%; Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), up 4%; Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), up 3.6% and Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), up 3.1%.</li>
<li>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) soared over 7% to fresh record highs after a strong quarterly report. </li>
<li>Other stocks reacting to company earnings included CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), down 6%; Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), up 0.1%; Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), up 2%; Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), down 2.5%; Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), up 6%; Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), down 3%; Marsh &amp; McLennan Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), up 0.1%; Elevance Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), down 12%; Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), up 8%; Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), down 1.2%; M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), up 5%; Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), down 1.8% and KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), down 1.5%.</li>
<li>Companies slated to report their earnings after the close include Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>). </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41385179/hamas-chief-oct-7-mastermind-yahya-sinwar-possibly-dead-idf-conducts-dna-tests-after-gaza-clash">Hamas Chief, Oct. 7 Mastermind Yahya Sinwar Possibly Dead: IDF Conducts DNA Tests After Gaza Clash</a></li>
</ul>
Photo: Shutterstock

Chipmakers Rally, Nvidia Smashes Records On TSMC Blowout Earnings, Gold Hits All-Time Highs: What's Driving Markets Thursday?

Technology stocks, specifically chipmakers, could lead from the front on Thursday as a<a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips"> stellar third-quarter earnings report </a>from Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is triggering positive sentiment toward all artificial intelligence plays. Oil prices have rebounded and gold traded at a fresh record, while bond yields held steady ahead of a slew of market-moving data that include retail sales, a regional manufacturing activity index, industrial production, and jobless claims.
Earnings news could provide an offsetting impact in the eventuality of the market construing the economic data as inclement. Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is the first among the mega-cap earnings due after the market close and the results could evince interest among traders and set the tone for the tech reporting season.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.09%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.42% to $584.76 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.83% to $495, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Small-caps ripped higher on Wednesday, extending their recent gains amid hopes of a benign economic environment but the major averages opened on a tentative note. Solid earnings reports from financial companies and strong gains by real-estate and utility stocks helped the major indices close firmly in the green.
The Dow Jones Industrial Average turned solidly higher immediately after spending the better part of the session above the unchanged line. The 30-stock blue-chip average ended at a fresh high, although it did not have enough momentum to break above its Oct. 15 intraday high of 43,277.78.
The S&amp;P 500 Index and the Nasdaq Composite had a lackluster first-half before picking up momentum in the afternoon. 
Of the 11 S&amp;P 500 sector classes, only communication services and consumer discretionary stocks declined in Wednesday&#8217;s session.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.28%</td>
<td>18,367.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.47%</td>
<td>5,842.47</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.79</td>
<td>43,077.70</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.64%</td>
<td>2,286.68</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Delving into the small-cap rally that has been on, LPL Financial Chief Technical Strategist Adam Turnquist said after being stuck in a consolidation phase over the past few months, small-caps have picked up some momentum in recent sessions, with the growth outlook recently improving — underpinned by better-than-feared labor market conditions — and increased visibility into Fed rate cuts, he said.
The strategist noted that the Russell 2,000 Index, or RTY, has rallied off the lower end of its rising price channel. &#8220;Recent strength in the banking space — the RTY's largest sector by weighting — has further supported small caps,&#8221; he said.
Technically, a close above 2,275 would confirm a breakout from its current symmetrical triangle and leave&nbsp;the 2021 highs (2,243)&nbsp;as the next resistance hurdle to clear, Turnquist said, adding that momentum indicators have also recently turned bullish, adding to the evidence of a topside breakout.
&#8220;Despite the improving absolute performance, the RTY vs. S&amp;P 500 ratio chart still remains in a downtrend and below its declining 200-day moving average (DMA),&#8221; he said. A close above the July highs would validate a trend reversal in favor of small caps outperforming, he added.
Meanwhile, a fund manager thinks AI-levered companies could be defensive plays. Louis Navellier said, &#8220;Semiconductor demand has become the new proxy for global growth trends, being incorporated into almost everything, and also has geopolitical implications with technology export controls in place and China continuing to saber rattle about taking Taiwan back.&#8221;
&#8220;The upshot here is the inference that AI will still have legs even if we slide into a global recession in &#8217;25,&#8221; he added.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the weekly jobless claim report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment insurance to come in at 260,000 in the week ended Oct. 12, up from 258,000 in the previous week.</li>
<li>The Commerce Department will release its September retail sales report at 8:30 a.m. EDT. The consensus estimates call for a 0.3% month-over-month increase in headline retail sales and a more modest 0.1% rise in retail sales, excluding the volatile auto sales. This compares to 0.1% increases for both in August.</li>
<li>The Philadelphia Fed is due to release the results of its manufacturing survey at 8:30 a.m. EDT. The diffusion index of business activity is expected to rise from 1.7 in September to 3 in October.</li>
<li>The Federal Reserve will release its industrial production report for September at 9:15 a.m. EDT. The consensus estimate models a 0.2% month-over-month decline in industrial output compared to 0.8% growth in August. </li>
<li>The Commerce Department&#8217;s business inventories report, due at 10 a.m. EDT, is expected to show a 0.3% month-over-month increase in business inventories for August, slightly slower than July&#8217;s 0.4% increase.</li>
<li>The National Association of Home Builders will release its housing market index for October at 10 a.m. EDT. The headline index, which measures confidence among homebuilders, is expected to rise a point from September to 42. A reading below 50 suggests a lack of confidence.</li>
<li>The Energy Information Administration will release its weekly oil inventories report at 11 p.m. EDT.</li>
<li>The Treasury is scheduled to auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) climbed nearly 5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the aluminum maker&#8217;s quarterly results, and TSMC surged up over 8% on a beat-and-raise quarter.</li>
<li>Other stocks moving on earnings are CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) (down about 5%) Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) (down nearly 6%), and Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) (up over 3%).</li>
<li>Blackstone Inc. (BX), Marsh &amp; McLennan Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), and M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) are among the noteworthy <a href="https://www.benzinga.com/calendars/earnings">companies reporting ahead of the market opening.</a></li>
<li>Those reporting after the close include Netflix, Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), WD-40 Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>), and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>).</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) climbed over 7.7% on the news that Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) might be interested in buying the company.</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) plunged over 15% on a common stock offering.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures are reversing course and were up modestly after their recent pullback and gold futures traded at a record. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped over 1% over the past 24 hours and was at a sub-$67K level.
The 10-year U.S. Treasury note yield was little changed at 4.036%.
The Asian markets ended mixed on Wednesday, as the Japanese, Chinese, Hong Kong, Indian, and South Korean markets retreated. Most other markets ended on a firm note, tracking higher energy prices and the positive close on Wall Street overnight.
European stocks traded in the green in the early hours, thanks to earnings optimism.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41375637/market-very-convinced-of-a-trump-win-says-stanley-druckenmiller-why-billionaire-inv">Market &#8216;Very Convinced&#8217; Of A Trump Win, Says Stanley Druckenmiller: Why Billionaire Investor Thinks Blue Sweep Is &#8216;Highly Unlikely&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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.

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.

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

Mizuho Securities analyst Edlain Rodriguez has maintained their bullish stance on CCK stock, giving a Buy rating today. Edlain Rodriguez has given ...

Crown Holdings' Strong Beverage Can Performance Drives Buy Rating with Raised EPS Outlook

Analysts have been eager to weigh in on the Consumer Cyclical sector with new ratings on Amazon (AMZN – Research Report), Hyatt Hotels (H – Researc...

Analysts Offer Insights on Consumer Cyclical Companies: Amazon (AMZN), Hyatt Hotels (H) and Crown Holdings (CCK)

RBC Capital analyst Arun Viswanathan raised the firm's price target on Crown Holdings (CCK) to $113 from $105 and keeps an Outperform rating on the...

Crown Holdings price target raised to $113 from $105 at RBC Capital

Constellium (CSTM) announced that its newly inaugurated aluminium recycling center in Neuf-Brisach, France, has achieved a major milestone by quali...

Constellium qualifies first aluminum coils from recycling center with Crown

Crown Holdings: Low Growth Prospects Keep Me On The Sidelines

Virtual Meeting to be held on November 25 hosted by Loop Capital. Published first on TheFly – the ultimate source for real-time, market-moving brea...

Crown Holdings management to meet virtually with Loop Capital

Janus Henderson Triton Fund Q3 2024 Commentary

The packaging market is poised for growth, fueled by increasing eco-conscious demand, government regulations, technological innovations, and sustainable materials that align with global sustainability goals. Let's explore the fundamentals of sustainable packaging stocks like Sealed Air (SEE), Crown Holdings (CCK), and Sonoco Products (SON), which present promising investment opportunities. Read more... The packaging market shows significant promise, driven by the growing demand for eco-conscious solutions. This trend fosters industry-wide innovation and collaboration, creating lucrative investment opportunities.
As the industry adapts to meet sustainability goals, considering strong sustainable packaging stocks like Sealed Air Corporation (<a href="https://stocknews.com/stock/SEE/">SEE</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>) could be a smart move.
With a global focus on sustainability, governments enforce accountability through Extended Producer Responsibility (EPR) programs, while businesses adopt technology to enhance recycling and supply chain efficiency. Driven by biodegradable options like mycelium and seaweed, the sustainable packaging market, valued at $9.67 billion in 2024, is expected to grow at a <a href="https://www.businesswire.com/news/home/20241002644506/en/Sustainable-Packaging-Market-Industry-Trends-and-Global-Forecasts-to-2035---ResearchAndMarkets.com">6.43% CAGR</a> through 2035.
Moreover, consumer preference for recyclable and reusable materials, coupled with global bans on single-use plastics, is driving significant market growth. Additionally, AI advancements enhance quality control, efficiency, and recyclability, reducing waste and costs. Consequently, the packaging market, valued at $1.14 trillion in 2024, is projected to grow to $1.38 trillion by 2029, with a <a href="https://www.mordorintelligence.com/industry-reports/global-packaging-market/market-size#:~:text=The%20Packaging%20Market%20size%20is,period%20(2024%2D2029).">CAGR of 3.89%</a>.
Let's take a closer look at the fundamentals of the three featured <a href="https://stocknews.com/category/industrial-packaging/">Industrial – Packaging</a> stocks, beginning with the third choice.
Stock #3: Sealed Air Corporation (<a href="https://stocknews.com/stock/SEE/">SEE</a>)
SEE provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments: Food and Protective.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin, SEE's 8.46% is 64.6% higher than the 5.14% industry average. Similarly, its 9.41% trailing-12-month Return on Total Capital is 97.4% higher than the 4.77% industry average. Also, the stock's 0.73x trailing-12-month asset turnover ratio is 11.2% higher than the 0.66x industry average.
During the fiscal third quarter that ended on September 30, 2024, SEE's net sales amounted to $1.35 billion, with adjusted EBITDA standing at $276 million. Additionally, its adjusted net earnings increased 3.8% from the year-ago value to $115.7 million, and its adjusted EPS grew 2.6% year-over-year to $0.79.
Street expects SEE's revenue for the quarter ending June 30, 2025, to increase marginally year-over-year to $1.35 billion. Its EPS for fiscal 2025 is expected to grow 2.4% year-over-year to $3.15. SEE surpassed the Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 9.4% to close the last trading session at $36.24.
SEE's promising outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a B grade for Value and Quality. It is ranked #8 out of 18 stocks in the A-rated <a href="https://stocknews.com/category/industrial-packaging/">Industrial – Packaging</a> industry. To access additional ratings for SEE's Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/SEE/">click here</a>.
Stock #2: Crown Holdings, Inc. (<a href="https://stocknews.com/stock/CCK/">CCK</a>)
CCK and its subsidiaries engage in the packaging business internationally. It operates through the 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.
On October 24, 2024, CCK announced a cash dividend of $0.25 per share, payable on November 27, 2024, to shareholders of record by November 14, 2024.
In terms of the trailing-12-month EBIT margin, CCK's 11.76% is 12% higher than the 10.49% industry average. Likewise, its 10.12% trailing-12-month levered FCF margin is 96.8% higher than the 5.14% industry average. Furthermore, the stock's 0.80x trailing-12-month asset turnover ratio is 21% higher than the 0.66x industry average.
CCK's net sales for the fiscal third quarter that ended on September 30, 2024, grew marginally year-over-year to $3.07 billion, while its income from operations stood at $444 million, up 18.7% compared to the prior-year quarter. The company's adjusted net income and earnings per share each increased 15% year-over-year to $238 million and $1.99, respectively.
For the quarter ending December 31, 2024, CCK's EPS and revenue are expected to increase 22.9% and 1.3% year-over-year to $1.52 and $2.90 billion, respectively. CCK surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past nine months, the stock has gained 20% to close the last trading session at $93.02.
CCK's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has an A grade for Growth. Within the same industry, it is ranked #5. To see CCK's Value, Momentum, Stability, Sentiment, and Quality ratings, <a href="https://stocknews.com/stock/CCK/">click here</a>.
Stock #1: Sonoco Products Company (<a href="https://stocknews.com/stock/SON/">SON</a>)
SON and its subsidiaries design, develop, manufacture, and sell various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates through the Consumer Packaging and Industrial Paper Packaging segments.
On October 15, 2024, SON announced a $0.52 quarterly dividend per share, payable on December 10, 2024, with a 3.8% yield, marking 41 consecutive years of increases.
SON's trailing-12-month Return on Common Equity of 11.98% is 104.7% higher than the industry average of 5.85%. Likewise, its trailing-12-month Return on Total Capital and Return on Total Assets of 6.01% and 3.19% are 26.2% and 29.2% higher than the industry averages of 4.76% and 2.47%, respectively.
For the fiscal third quarter that ended on September 29, 2024, SON's net sales amounted to $1.68 billion, while its adjusted operating profit stood at $210.67 million. Its adjusted attributable net income and earnings per share for the quarter were $147.89 million and $1.49, respectively, each up 2.1% from the prior-year value.
Analysts expect SON's EPS for the quarter ending December 31, 2024, to increase 18.3% year-over-year to $1.21. Its revenue for the quarter ending March 31, 2025, is expected to grow marginally year-over-year to $1.65 billion. SON surpassed the EPS estimates in three of the trailing four quarters. Over the past month, the stock has gained 3.3%, closing the last trading session at $51.31.
SON's POWR Ratings reflect its bright prospects. It has an overall rating of B, equating to a Buy in our proprietary rating system.
SON has a B grade for Stability. Within the Industrial – Packaging industry, it is ranked #4. <a href="https://stocknews.com/stock/SON/">Click here</a> for the additional POWR Ratings of SON (Growth, Value, Momentum, Sentiment, and Quality).
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
CCK shares were trading at $93.02 per share on Thursday morning, up $0.80 (+0.87%). Year-to-date, CCK has gained 2.22%, versus a 27.18% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/cck-see-son-3-sustainable-packaging-stocks-meeting-eco-friendly-demands/>3 Sustainable Packaging Stocks Meeting Eco-Friendly Demands</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Sustainable Packaging Stocks Meeting Eco-Friendly Demands

AptarGroup Has Gotten Too Expensive

Following the closing of the previously announced sale of Eviosys to Sonoco Products Company (SON), Crown Holdings (CCK), will receive net cash pro...

Comments

Crown Holdings

Crown Holdings (CCK) Forecast

Crown Holdings (NYSE:CCK) Stock, Quote.Headers.trade-ideas

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga