Q3 2019 EPS Estimates for Crane Co. (CR) Reduced by DA Davidson
Crane Co. (NYSE:CR) – DA Davidson lowered their Q3 2019 earnings per share (EPS) estimates for Crane in a research report issued on Wednesday, October 24th. DA Davidson analyst M. Summerville now expects that the conglomerate will post earnings per share of $1.57 for the quarter, down from their prior forecast of $1.58.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. UBS Group boosted their target price on Crane from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Stifel Nicolaus boosted their target price on Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, ValuEngine lowered Crane from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $108.13.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.16. The business had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $855.87 million. Crane had a return on equity of 23.29% and a net margin of 6.76%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS.
Several hedge funds have recently modified their holdings of CR. Russell Investments Group Ltd. lifted its holdings in shares of Crane by 26.6% during the first quarter. Russell Investments Group Ltd. now owns 29,799 shares of the conglomerate’s stock worth $2,759,000 after buying an additional 6,256 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Crane by 9.3% during the first quarter. Legal & General Group Plc now owns 69,611 shares of the conglomerate’s stock worth $6,455,000 after buying an additional 5,906 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Crane by 7.9% during the first quarter. Principal Financial Group Inc. now owns 1,423,710 shares of the conglomerate’s stock worth $132,035,000 after buying an additional 103,741 shares during the last quarter. New England Research & Management Inc. lifted its holdings in shares of Crane by 11.3% during the second quarter. New England Research & Management Inc. now owns 16,200 shares of the conglomerate’s stock worth $1,298,000 after buying an additional 1,650 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Crane by 40.1% during the second quarter. State of Alaska Department of Revenue now owns 5,490 shares of the conglomerate’s stock worth $439,000 after buying an additional 1,570 shares during the last quarter. Institutional investors own 68.31% of the company’s stock.
In other news, CFO Richard A. Maue sold 13,150 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $89.04, for a total transaction of $1,170,876.00. Following the completion of the transaction, the chief financial officer now directly owns 55,390 shares in the company, valued at $4,931,925.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brendan Curran sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $91.07, for a total value of $273,210.00. Following the transaction, the insider now owns 14,346 shares of the company’s stock, valued at $1,306,490.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,112 shares of company stock valued at $3,250,764. Corporate insiders own 3.00% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 30th will be issued a $0.35 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.40 annualized dividend and a yield of 1.61%. Crane’s dividend payout ratio (DPR) is currently 30.91%.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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