Brokerages Expect Crane Co. (NYSE:CR) Will Announce Quarterly Sales of $807.70 Million

Equities research analysts expect that Crane Co. (NYSE:CR) will post sales of $807.70 million for the current quarter, according to Zacks. Three analysts have issued estimates for Crane’s earnings, with the highest sales estimate coming in at $827.00 million and the lowest estimate coming in at $791.10 million. Crane reported sales of $855.80 million during the same quarter last year, which indicates a negative year over year growth rate of 5.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, October 28th.

According to Zacks, analysts expect that Crane will report full-year sales of $3.32 billion for the current financial year, with estimates ranging from $3.30 billion to $3.33 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.47 billion, with estimates ranging from $3.42 billion to $3.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Crane.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 22nd. The conglomerate reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.03. Crane had a return on equity of 24.24% and a net margin of 10.67%. The company had revenue of $841.60 million for the quarter, compared to the consensus estimate of $833.30 million. During the same quarter last year, the company earned $1.41 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.



Several equities research analysts have weighed in on CR shares. ValuEngine downgraded Crane from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Buckingham Research raised their price target on Crane from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, DA Davidson raised their price target on Crane from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $95.88.

In other Crane news, VP James A. Lavish sold 650 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $86.36, for a total value of $56,134.00. Following the completion of the sale, the vice president now owns 16,359 shares of the company’s stock, valued at $1,412,763.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.39% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Crane by 1.2% during the second quarter. BlackRock Inc. now owns 7,699,453 shares of the conglomerate’s stock worth $642,442,000 after purchasing an additional 88,581 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Crane by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 654,034 shares of the conglomerate’s stock worth $54,573,000 after purchasing an additional 18,193 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Crane by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 493,972 shares of the conglomerate’s stock worth $35,654,000 after purchasing an additional 18,836 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Crane by 828.5% during the second quarter. Nuveen Asset Management LLC now owns 436,160 shares of the conglomerate’s stock worth $36,393,000 after purchasing an additional 389,187 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Crane by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 425,449 shares of the conglomerate’s stock worth $35,500,000 after purchasing an additional 5,849 shares during the period. 69.22% of the stock is owned by hedge funds and other institutional investors.

CR stock traded down $0.63 during trading on Wednesday, reaching $81.33. 179,700 shares of the company traded hands, compared to its average volume of 301,116. Crane has a 12 month low of $67.18 and a 12 month high of $100.14. The business has a 50 day simple moving average of $77.90 and a 200 day simple moving average of $82.41. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 2.17.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Saturday, August 31st were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, August 29th. Crane’s dividend payout ratio is presently 26.04%.

About Crane

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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