Equities analysts expect Crane Co. (NYSE:CR) to post earnings per share of $1.55 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Crane’s earnings, with the highest EPS estimate coming in at $1.62 and the lowest estimate coming in at $1.52. Crane posted earnings of $1.62 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The firm is expected to report its next quarterly earnings results on Monday, October 28th.
According to Zacks, analysts expect that Crane will report full year earnings of $6.39 per share for the current fiscal year, with EPS estimates ranging from $6.35 to $6.45. For the next year, analysts expect that the company will report earnings of $7.05 per share, with EPS estimates ranging from $6.95 to $7.14. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Crane.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 22nd. The conglomerate reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.03. The business had revenue of $841.60 million during the quarter, compared to the consensus estimate of $833.30 million. Crane had a return on equity of 24.24% and a net margin of 10.67%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS.
In other news, VP James A. Lavish sold 650 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $86.36, for a total value of $56,134.00. Following the transaction, the vice president now owns 16,359 shares in the company, valued at approximately $1,412,763.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.39% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Crane by 6.4% in the first quarter. BlackRock Inc. now owns 7,610,872 shares of the conglomerate’s stock valued at $644,031,000 after acquiring an additional 460,568 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Crane by 828.5% during the second quarter. Nuveen Asset Management LLC now owns 436,160 shares of the conglomerate’s stock valued at $36,393,000 after buying an additional 389,187 shares during the period. Marshall Wace LLP purchased a new stake in Crane during the second quarter valued at about $16,628,000. Victory Capital Management Inc. boosted its position in Crane by 8.6% during the first quarter. Victory Capital Management Inc. now owns 1,080,417 shares of the conglomerate’s stock valued at $91,425,000 after buying an additional 85,550 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Crane by 4,363.2% during the second quarter. Cubist Systematic Strategies LLC now owns 65,653 shares of the conglomerate’s stock valued at $5,478,000 after buying an additional 64,182 shares during the period. Institutional investors and hedge funds own 69.22% of the company’s stock.
CR stock traded down $0.31 during mid-day trading on Monday, reaching $82.77. 5,569 shares of the company traded hands, compared to its average volume of 245,083. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 2.05 and a beta of 1.37. The company has a quick ratio of 1.50, a current ratio of 2.17 and a debt-to-equity ratio of 0.56. Crane has a fifty-two week low of $67.18 and a fifty-two week high of $100.14. The firm’s 50 day moving average price is $78.18 and its 200 day moving average price is $82.46.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Saturday, August 31st were paid a $0.39 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.88%. Crane’s payout ratio is presently 26.04%.
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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