Equities analysts predict that Crane Company (NYSE:CR) will post earnings per share of $1.09 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Crane’s earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $1.06. Crane reported earnings per share of $1.07 during the same quarter last year, which would indicate a positive year over year growth rate of 1.9%. The company is expected to announce its next quarterly earnings results after the market closes on Monday, October 23rd.
According to Zacks, analysts expect that Crane will report full-year earnings of $4.47 per share for the current year, with EPS estimates ranging from $4.45 to $4.50. For the next fiscal year, analysts forecast that the firm will report earnings of $5.00 per share, with EPS estimates ranging from $4.85 to $5.15. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Crane.
Crane (NYSE:CR) last issued its earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.17. The company had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. Crane’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS.
CR has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Monday, July 17th. BidaskClub upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Scotiabank restated a “buy” rating on shares of Crane in a report on Tuesday, October 10th. Finally, Boenning Scattergood restated a “hold” rating on shares of Crane in a report on Monday, October 2nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $76.38.
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In other Crane news, VP Edward S. Switter sold 7,000 shares of Crane stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $74.03, for a total value of $518,210.00. Following the sale, the vice president now owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $73.73, for a total transaction of $442,380.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,200 shares of company stock worth $1,661,630. Insiders own 3.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Acrospire Investment Management LLC raised its position in Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after acquiring an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after acquiring an additional 140 shares during the period. Global X Management Co. LLC raised its position in Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after acquiring an additional 1,282 shares during the period. Howe & Rusling Inc. raised its position in Crane by 88.5% in the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after acquiring an additional 1,057 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Crane in the second quarter worth about $204,000. 69.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crane (CR) traded up 1.66% during midday trading on Friday, hitting $84.11. 259,131 shares of the stock were exchanged. Crane has a 1-year low of $59.81 and a 1-year high of $84.52. The firm’s 50 day moving average is $78.65 and its 200-day moving average is $77.96. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 38.32 and a beta of 1.12.
Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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