Crane (NYSE:CR) Issues FY24 Earnings Guidance

Crane (NYSE:CR) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.95-$5.15 for the period, compared to the consensus estimate of $5.01. The company issued revenue guidance of $2.31 billion, compared to the consensus revenue estimate of $2.31 billion. Crane also updated its FY 2024 guidance to 4.950-5.150 EPS.

Crane Stock Performance

CR stock traded down $7.08 during midday trading on Tuesday, reaching $152.04. 150,507 shares of the company were exchanged, compared to its average volume of 236,297. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 42.81, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81. The business has a 50-day moving average price of $146.62 and a two-hundred day moving average price of $136.07. Crane has a one year low of $82.57 and a one year high of $162.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.

Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. During the same period last year, the business posted $1.10 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, August 30th. Crane’s dividend payout ratio (DPR) is 21.98%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson boosted their price target on Crane from $142.00 to $160.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Vertical Research upgraded Crane from a hold rating to a buy rating in a research report on Wednesday, April 24th. Bank of America upped their price objective on shares of Crane from $140.00 to $165.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. UBS Group raised their target price on shares of Crane from $120.00 to $152.00 and gave the company a neutral rating in a report on Wednesday, May 15th. Finally, StockNews.com upgraded shares of Crane from a hold rating to a buy rating in a research report on Saturday, April 27th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $145.50.

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.