Crane (NYSE:CR) Releases FY 2021 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY 2021 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 5.650-5.850 for the period, compared to the Thomson Reuters consensus estimate of $5.120. The company issued revenue guidance of $3.19 billion-$3.19 billion, compared to the consensus revenue estimate of $3.08 billion.

Shares of CR stock traded down $1.44 during trading on Tuesday, hitting $95.95. 3,668 shares of the company were exchanged, compared to its average volume of 279,471. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.42. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 255.09 and a beta of 1.65. The business’s 50-day simple moving average is $95.44 and its 200 day simple moving average is $82.23. Crane has a twelve month low of $48.19 and a twelve month high of $99.93.

Crane (NYSE:CR) last posted its quarterly earnings results on Sunday, May 2nd. The conglomerate reported $1.66 EPS for the quarter, topping the consensus estimate of $1.31 by $0.35. The business had revenue of $833.50 million during the quarter, compared to analysts’ expectations of $771.33 million. Crane had a net margin of 0.71% and a return on equity of 18.09%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. On average, equities analysts forecast that Crane will post 3.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 9th. Shareholders of record on Friday, May 28th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, May 27th. Crane’s dividend payout ratio (DPR) is presently 28.57%.

CR has been the subject of a number of analyst reports. DA Davidson lifted their target price on shares of Crane from $85.00 to $105.00 and gave the company a neutral rating in a research note on Wednesday, May 5th. Zacks Investment Research raised shares of Crane from a sell rating to a hold rating and set a $80.00 target price on the stock in a research report on Thursday, January 28th. Finally, Canaccord Genuity increased their price target on shares of Crane from $96.00 to $100.00 and gave the company a buy rating in a report on Wednesday, March 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Crane currently has an average rating of Buy and an average price target of $89.50.

In other news, Director Donald G. Cook sold 500 shares of the firm’s stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $94.87, for a total value of $47,435.00. Following the completion of the sale, the director now directly owns 3,837 shares in the company, valued at $364,016.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard A. Maue sold 15,822 shares of Crane stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $83.12, for a total value of $1,315,124.64. Following the completion of the transaction, the chief financial officer now directly owns 93,075 shares of the company’s stock, valued at $7,736,394. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,322 shares of company stock valued at $2,356,810. Company insiders own 3.60% of the company’s stock.

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 and Estimates for Crane (NYSE:CR)

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