Crane Co. (CR) Expected to Announce Quarterly Sales of $786.78 Million
Equities research analysts forecast that Crane Co. (NYSE:CR) will post $786.78 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Crane’s earnings. The lowest sales estimate is $708.40 million and the highest is $828.50 million. Crane reported sales of $673.40 million during the same quarter last year, which indicates a positive year over year growth rate of 16.8%. The business is expected to report its next earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Crane will report full year sales of $786.78 million for the current financial year, with estimates ranging from $2.88 billion to $3.36 billion. For the next year, analysts anticipate that the firm will report sales of $3.32 billion per share, with estimates ranging from $3.06 billion to $3.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Crane.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The company had revenue of $714.20 million for the quarter, compared to analyst estimates of $702.50 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year.
In other Crane news, VP Augustus I. Dupont sold 16,396 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $97.74, for a total value of $1,602,545.04. Following the completion of the transaction, the vice president now owns 102,994 shares of the company’s stock, valued at approximately $10,066,633.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James L. L Tullis sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the completion of the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at approximately $171,838.40. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Crane by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock valued at $53,033,000 after purchasing an additional 223,225 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Crane by 13.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after purchasing an additional 167,051 shares in the last quarter. FMR LLC boosted its stake in shares of Crane by 338.8% in the 2nd quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock valued at $16,085,000 after purchasing an additional 156,454 shares in the last quarter. Robecosam AG boosted its stake in shares of Crane by 112.3% in the 2nd quarter. Robecosam AG now owns 182,063 shares of the conglomerate’s stock valued at $14,305,000 after purchasing an additional 96,322 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in shares of Crane in the 3rd quarter valued at $5,895,000. 67.53% of the stock is owned by institutional investors and hedge funds.
Shares of Crane (CR) opened at $93.09 on Thursday. Crane has a 12-month low of $70.56 and a 12-month high of $102.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.81 and a quick ratio of 1.40. The stock has a market cap of $5,560.49, a P/E ratio of 32.78, a PEG ratio of 1.33 and a beta of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, February 27th. This is a boost from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is currently 46.48%.
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Crane Company Profile
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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