$1.55 EPS Expected for Crane Co. (CR) This Quarter
Wall Street analysts predict that Crane Co. (NYSE:CR) will post $1.55 earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Crane’s earnings. The highest EPS estimate is $1.59 and the lowest is $1.48. Crane reported earnings per share of $1.41 during the same quarter last year, which would suggest a positive year over year growth rate of 9.9%. The company is scheduled to report its next earnings report on Monday, July 22nd.
On average, analysts expect that Crane will report full year earnings of $6.40 per share for the current year, with EPS estimates ranging from $6.35 to $6.45. For the next fiscal year, analysts expect that the business will report earnings of $7.03 per share, with EPS estimates ranging from $6.90 to $7.14. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Crane.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. The company had revenue of $831.70 million during the quarter, compared to analysts’ expectations of $792.39 million. Crane had a return on equity of 24.49% and a net margin of 10.34%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share.
Shares of NYSE CR opened at $85.00 on Friday. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 2.15 and a beta of 1.35. Crane has a 52-week low of $67.18 and a 52-week high of $100.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 31st will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.84%. Crane’s dividend payout ratio is 26.04%.
In related news, insider Louis V. Pinkham sold 55,103 shares of Crane stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $85.03, for a total value of $4,685,408.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James A. Lavish sold 5,150 shares of Crane stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $84.94, for a total value of $437,441.00. The disclosure for this sale can be found here. Insiders own 3.39% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Crane by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 327,019 shares of the conglomerate’s stock worth $32,162,000 after buying an additional 4,442 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Crane by 8.8% during the third quarter. Teachers Advisors LLC now owns 451,444 shares of the conglomerate’s stock worth $44,400,000 after buying an additional 36,681 shares in the last quarter. Vanguard Group Inc boosted its holdings in Crane by 1.0% during the third quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock worth $435,315,000 after buying an additional 41,941 shares in the last quarter. Virtu Financial LLC purchased a new stake in Crane during the fourth quarter worth about $482,000. Finally, Meeder Asset Management Inc. purchased a new stake in Crane during the fourth quarter worth about $821,000. 69.16% of the stock is owned by institutional investors and hedge funds.
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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