Analysts Anticipate Crane Company (CR) Will Post Earnings of $1.10 Per Share
Wall Street analysts forecast that Crane Company (NYSE:CR) will report earnings of $1.10 per share for the current quarter, according to Zacks. Five analysts have issued estimates for Crane’s earnings, with the highest EPS estimate coming in at $1.14 and the lowest estimate coming in at $1.08. Crane posted earnings of $1.07 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The firm is scheduled to issue its next earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Crane will report full year earnings of $4.45 per share for the current year, with EPS estimates ranging from $4.44 to $4.47. For the next financial year, analysts expect that the firm will post earnings of $4.94 per share, with EPS estimates ranging from $4.64 to $5.15. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Crane.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.17. The business had revenue of $702.50 million for the quarter, compared to analyst estimates of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS.
Several brokerages have recently weighed in on CR. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Stifel Nicolaus reissued a “hold” rating and issued a $85.00 target price on shares of Crane in a research note on Friday, July 14th. William Blair raised shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 25th. Finally, Wolfe Research began coverage on shares of Crane in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $76.88.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the transaction, the vice president now directly owns 24,786 shares in the company, valued at approximately $1,888,693.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Curtis A. Baron, Jr. sold 5,364 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $79.60, for a total transaction of $426,974.40. Following the transaction, the vice president now owns 18,044 shares in the company, valued at $1,436,302.40. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CR. ClariVest Asset Management LLC boosted its position in shares of Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock valued at $110,000 after buying an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after buying an additional 140 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock valued at $148,000 after buying an additional 1,282 shares during the last quarter. Broderick Brian C acquired a new position in shares of Crane during the first quarter valued at about $202,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Crane during the second quarter valued at about $204,000. Institutional investors own 69.42% of the company’s stock.
Shares of Crane (NYSE:CR) opened at 75.93 on Wednesday. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 34.59 and a beta of 1.10. The firm has a 50-day moving average of $79.75 and a 200-day moving average of $76.66. Crane has a one year low of $59.81 and a one year high of $84.34.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s payout ratio is presently 60.83%.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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