Crane (NYSE:CR – Get Free Report) released its quarterly earnings results on Monday. The conglomerate reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10, Briefing.com reports. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue was up 10.0% on a year-over-year basis. Crane updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.
Crane Trading Up 1.0 %
Shares of Crane stock opened at $130.76 on Tuesday. The stock has a market capitalization of $7.47 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. Crane has a 52 week low of $67.28 and a 52 week high of $139.34. The stock has a 50 day moving average price of $129.69 and a two-hundred day moving average price of $115.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.
Crane Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were given a dividend of $0.205 per share. This is a positive change from Crane’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.82 annualized dividend and a dividend yield of 0.63%. Crane’s dividend payout ratio is presently 22.22%.
Wall Street Analysts Forecast Growth
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.
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