Crane (NYSE:CR) Issues Earnings Results

Crane (NYSE:CR) released its quarterly earnings results on Monday. The conglomerate reported $1.30 EPS for the quarter, topping the consensus estimate of $1.24 by $0.06, Briefing.com reports. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $1.10 earnings per share. Crane updated its FY24 guidance to $4.95-$5.15 EPS and its FY 2024 guidance to 4.950-5.150 EPS.

Crane Trading Up 0.5 %

NYSE CR opened at $159.69 on Tuesday. Crane has a 52 week low of $82.57 and a 52 week high of $162.28. The firm has a 50 day moving average of $146.62 and a two-hundred day moving average of $136.07. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.13 billion, a PE ratio of 42.81, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 30th will be paid a $0.205 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.51%. Crane’s dividend payout ratio is currently 21.98%.

Wall Street Analysts Forecast Growth

CR has been the subject of a number of research analyst reports. Bank of America raised their target price on Crane from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. UBS Group raised their price objective on shares of Crane from $120.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, April 27th. Finally, Stifel Nicolaus boosted their price target on shares of Crane from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Crane has a consensus rating of “Moderate Buy” and an average target price of $145.50.

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.