Wall Street brokerages expect that Crane Co. (NYSE:CR) will post $709.46 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Crane’s earnings. The highest sales estimate is $728.00 million and the lowest is $697.50 million. Crane posted sales of $681.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The company is expected to announce its next earnings results on Monday, January 29th.
On average, analysts expect that Crane will report full year sales of $709.46 million for the current financial year, with estimates ranging from $2.77 billion to $2.80 billion. For the next year, analysts anticipate that the business will report sales of $2.89 billion per share, with estimates ranging from $2.86 billion to $2.93 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Crane.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share.
A number of research analysts have recently weighed in on CR shares. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Canaccord Genuity restated a “buy” rating and issued a $95.00 target price on shares of Crane in a report on Tuesday, December 5th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Bank of America raised their target price on Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $93.83.
In related news, VP A D. Pantaleoni sold 4,650 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $83.11, for a total transaction of $386,461.50. Following the completion of the sale, the vice president now directly owns 1,076 shares of the company’s stock, valued at $89,426.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. L Tullis sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the sale, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The disclosure for this sale can be found here. Insiders have sold 22,403 shares of company stock valued at $1,896,288 over the last ninety days. 3.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Crane by 115.7% in the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after acquiring an additional 682,934 shares during the period. Prudential Financial Inc. increased its stake in Crane by 69.0% in the 2nd quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after buying an additional 261,354 shares in the last quarter. Victory Capital Management Inc. increased its stake in Crane by 50.8% in the 3rd quarter. Victory Capital Management Inc. now owns 662,997 shares of the conglomerate’s stock worth $53,033,000 after buying an additional 223,225 shares in the last quarter. FMR LLC increased its stake in Crane by 338.8% in the 2nd quarter. FMR LLC now owns 202,628 shares of the conglomerate’s stock worth $16,085,000 after buying an additional 156,454 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Crane by 23.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after buying an additional 111,581 shares in the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.
Crane (NYSE:CR) opened at $88.43 on Wednesday. Crane has a fifty-two week low of $67.62 and a fifty-two week high of $89.82. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $5,263.74, a P/E ratio of 20.30, a PEG ratio of 1.94 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Thursday, November 30th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Wednesday, November 29th. Crane’s payout ratio is 59.19%.
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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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