Crane (CR) Set to Announce Quarterly Earnings on Monday

Crane (NYSE:CR) is scheduled to be announcing its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Crane has set its FY24 guidance at $4.55-4.85 EPS and its FY 2024 guidance at 4.550-4.850 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Crane (NYSE:CR) last issued its earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $532.90 million for the quarter, compared to analysts’ expectations of $519.55 million. On average, analysts expect Crane to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Crane Trading Up 0.1 %

Shares of CR stock opened at $129.54 on Friday. Crane has a 12-month low of $67.28 and a 12-month high of $139.34. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $129.57 and its 200 day moving average is $114.60. The stock has a market capitalization of $7.40 billion, a P/E ratio of 35.11, a P/E/G ratio of 1.93 and a beta of 1.49.

Crane Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a $0.205 dividend. The ex-dividend date was Wednesday, February 28th. This is an increase from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 annualized dividend and a yield of 0.63%. Crane’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CR shares. Bank of America increased their price target on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. StockNews.com downgraded shares of Crane from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stifel Nicolaus increased their price target on shares of Crane from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $125.00.

Institutional Trading of Crane

Institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. raised its position in shares of Crane by 100.0% during the 2nd quarter. Harbour Investments Inc. now owns 2,348 shares of the conglomerate’s stock valued at $171,000 after purchasing an additional 1,174 shares during the period. Covestor Ltd increased its holdings in Crane by 92.5% in the 1st quarter. Covestor Ltd now owns 1,511 shares of the conglomerate’s stock valued at $164,000 after acquiring an additional 726 shares during the last quarter. Systematic Financial Management LP bought a new stake in Crane in the 1st quarter valued at $147,000. NewEdge Advisors LLC increased its holdings in Crane by 18.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,153 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Crane by 14.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 133 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

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.