Crane (NYSE:CR) Issues FY24 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.75-5.05 for the period, compared to the consensus EPS estimate of $4.82. The company issued revenue guidance of $2.30 billion, compared to the consensus revenue estimate of $2.25 billion. Crane also updated its FY 2024 guidance to 4.750-5.050 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Crane from $135.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Bank of America boosted their target price on Crane from $110.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, StockNews.com lowered Crane from a buy rating to a hold rating in a research report on Friday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Crane currently has a consensus rating of Moderate Buy and a consensus target price of $125.00.

Crane Stock Up 1.0 %

Shares of NYSE CR opened at $130.76 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.93 and a beta of 1.49. The stock has a 50 day moving average price of $129.69 and a 200 day moving average price of $115.30. Crane has a 52-week low of $67.28 and a 52-week high of $139.34.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $532.90 million during the quarter, compared to analyst estimates of $519.55 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Sell-side analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were paid a $0.205 dividend. This is an increase from Crane’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 28th. This represents a $0.82 dividend on an annualized basis and a yield of 0.63%. Crane’s payout ratio is 22.22%.

About Crane

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.