Crane (NYSE:CR) Issues Earnings Results

Crane (NYSE:CR) issued its quarterly earnings data on Sunday. The conglomerate reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.35, MarketWatch Earnings reports. Crane had a net margin of 0.71% and a return on equity of 18.09%. The business had revenue of $833.50 million during the quarter, compared to analysts’ expectations of $771.33 million. During the same period in the previous year, the company earned $1.15 earnings per share. Crane’s revenue for the quarter was up 4.5% on a year-over-year basis.

CR traded up $3.44 during trading on Tuesday, reaching $98.18. 17,174 shares of the company’s stock were exchanged, compared to its average volume of 271,337. Crane has a fifty-two week low of $44.23 and a fifty-two week high of $97.31. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $94.28 and a 200 day moving average price of $79.18. The company has a market capitalization of $5.71 billion, a P/E ratio of 260.19 and a beta of 1.65.

A number of analysts have issued reports on the company. DA Davidson lowered Crane from a “buy” rating to a “neutral” rating and raised their target price for the company from $75.00 to $80.00 in a report on Thursday, January 7th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating and set a $80.00 price objective on the stock in a research note on Thursday, January 28th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. Finally, Canaccord Genuity upped their target price on Crane from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, March 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.25.

In other Crane news, CFO Richard A. Maue sold 15,822 shares of Crane stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $83.12, for a total transaction of $1,315,124.64. Following the sale, the chief financial officer now owns 93,075 shares in the company, valued at $7,736,394. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is owned by insiders.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for 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; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.

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Earnings History for Crane (NYSE:CR)

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