DA Davidson Comments on Crane’s Q2 2024 Earnings (NYSE:CR)

Crane (NYSE:CR) – Research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Crane in a research report issued on Wednesday, April 24th. DA Davidson analyst M. Summerville expects that the conglomerate will earn $1.23 per share for the quarter. DA Davidson has a “Buy” rating and a $160.00 price objective on the stock. The consensus estimate for Crane’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane’s FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. 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 the consensus estimate of $546.39 million. During the same quarter in the prior year, the business earned $1.25 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year.

Several other analysts have also recently commented on CR. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America increased their target price on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus increased their target price on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Crane currently has an average rating of “Moderate Buy” and a consensus target price of $137.00.

Crane Stock Up 0.2 %

NYSE:CR opened at $144.24 on Thursday. The stock’s fifty day moving average price is $130.79 and its two-hundred day moving average price is $116.03. Crane has a 52-week low of $67.28 and a 52-week high of $146.29. 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 company has a market cap of $8.23 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 1.93 and a beta of 1.49.

Hedge Funds Weigh In On Crane

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in shares of Crane by 143.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 116,920 shares of the conglomerate’s stock worth $10,387,000 after buying an additional 68,795 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Crane during the 3rd quarter worth about $679,000. Louisiana State Employees Retirement System acquired a new position in shares of Crane during the 4th quarter worth about $1,619,000. Fractal Investments LLC acquired a new position in shares of Crane during the 4th quarter worth about $579,000. Finally, JS Capital Management LLC lifted its stake in Crane by 98.0% in the 3rd quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate’s stock valued at $35,536,000 after purchasing an additional 198,000 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.205 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. Crane’s dividend payout ratio is 21.98%.

Crane Company Profile

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.