Brokerages expect Crane Co. (NYSE:CR) to announce $1.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Crane’s earnings. The lowest EPS estimate is $1.32 and the highest is $1.42. Crane reported earnings per share of $1.17 in the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The company is expected to report its next quarterly earnings report after the market closes on Monday, July 23rd.
According to Zacks, analysts expect that Crane will report full year earnings of $5.63 per share for the current fiscal year, with EPS estimates ranging from $5.60 to $5.70. For the next year, analysts forecast that the company will report earnings of $6.38 per share, with EPS estimates ranging from $6.25 to $6.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Crane.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.04. The business had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $802.47 million. Crane had a return on equity of 21.08% and a net margin of 6.09%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS.
Several analysts recently weighed in on the company. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a report on Tuesday. DA Davidson set a $111.00 price objective on Crane and gave the company a “buy” rating in a report on Friday, May 25th. ValuEngine cut Crane from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Susquehanna Bancshares raised Crane from a “neutral” rating to a “positive” rating and set a $104.00 price objective for the company in a report on Wednesday, April 25th. Finally, UBS Group raised Crane from a “neutral” rating to a “positive” rating in a report on Wednesday, April 25th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $105.89.
Several institutional investors have recently bought and sold shares of CR. Principal Financial Group Inc. grew its position in Crane by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,423,710 shares of the conglomerate’s stock worth $132,035,000 after acquiring an additional 103,741 shares during the last quarter. Legal & General Group Plc grew its position in shares of Crane by 9.3% in the 1st quarter. Legal & General Group Plc now owns 69,611 shares of the conglomerate’s stock valued at $6,455,000 after buying an additional 5,906 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Crane by 27.6% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 43,400 shares of the conglomerate’s stock valued at $4,025,000 after buying an additional 9,400 shares during the last quarter. Millennium Management LLC grew its position in shares of Crane by 58.2% in the 1st quarter. Millennium Management LLC now owns 296,163 shares of the conglomerate’s stock valued at $27,466,000 after buying an additional 108,921 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Crane in the 1st quarter valued at about $444,000. 69.21% of the stock is owned by institutional investors.
NYSE:CR traded down $0.95 during mid-day trading on Friday, hitting $80.32. 8,990 shares of the stock were exchanged, compared to its average volume of 266,067. The stock has a market cap of $4.89 billion, a P/E ratio of 17.51, a PEG ratio of 1.52 and a beta of 1.20. The company has a current ratio of 1.79, a quick ratio of 1.35 and a debt-to-equity ratio of 0.79. Crane has a fifty-two week low of $71.23 and a fifty-two week high of $102.65.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 31st were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.74%. Crane’s dividend payout ratio (DPR) is currently 30.91%.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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