Crane (NYSE:CR) Releases Earnings Results, Beats Expectations By $0.10 EPS

Crane (NYSE:CR) announced its quarterly earnings results on Monday. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10, Briefing.com reports. The firm had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. 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 5.8 %

NYSE CR opened at $138.27 on Wednesday. The company has a market capitalization of $7.89 billion, a PE ratio of 37.47, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a fifty day moving average of $130.01 and a 200 day moving average of $115.65. Crane has a 1 year low of $67.28 and a 1 year high of $139.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be given a dividend of $0.205 per share. The ex-dividend date is Friday, May 31st. This represents a $0.82 dividend on an annualized basis and a yield of 0.59%. Crane’s dividend payout ratio is presently 22.22%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Bank of America increased their price target on shares of Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Crane presently has a consensus rating of “Moderate Buy” and an average price target of $126.40.

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.