Crane (NYSE:CR) to Post Q2 2024 Earnings of $1.23 Per Share, DA Davidson Forecasts

Crane (NYSE:CR) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Crane in a note issued to investors on Wednesday, April 24th. DA Davidson analyst M. Summerville expects that the conglomerate will post earnings per share of $1.23 for the quarter. DA Davidson currently has a “Buy” rating and a $160.00 target price on the stock. The consensus estimate for Crane’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane’s FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

A number of other equities analysts have also commented on CR. StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America lifted their target price on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus lifted their target price on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

Crane Price Performance

Crane stock opened at $142.25 on Thursday. The stock’s 50 day moving average is $130.01 and its 200 day moving average is $115.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market cap of $8.12 billion, a P/E ratio of 38.55, a P/E/G ratio of 1.93 and a beta of 1.49. Crane has a one year low of $67.28 and a one year high of $143.67.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $565.30 million for the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.82 dividend on an annualized basis and a yield of 0.58%. Crane’s payout ratio is currently 22.22%.

Institutional Investors Weigh In On Crane

Several hedge funds and other institutional investors have recently modified their holdings of CR. Ronald Blue Trust Inc. increased its holdings in shares of Crane by 99.3% during the third quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Crane during the third quarter valued at approximately $1,180,000. Covenant Partners LLC bought a new stake in shares of Crane during the third quarter valued at approximately $255,000. Park Avenue Securities LLC bought a new stake in shares of Crane during the third quarter valued at approximately $264,000. Finally, TD Asset Management Inc bought a new stake in shares of Crane during the third quarter valued at approximately $1,297,000. Institutional investors own 75.14% of the company’s stock.

Crane Company Profile

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.