Crane (NYSE:CR) Announces $0.21 Quarterly Dividend

Crane (NYSE:CR) declared a quarterly dividend on Monday, October 28th, RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.205 per share by the conglomerate on Wednesday, December 11th. This represents a $0.82 dividend on an annualized basis and a yield of 0.54%.

Crane has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Stock Performance

NYSE:CR traded up $3.33 on Monday, reaching $152.39. 426,157 shares of the company’s stock were exchanged, compared to its average volume of 230,718. 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 $8.71 billion, a price-to-earnings ratio of 39.96, a P/E/G ratio of 1.93 and a beta of 0.77. Crane has a 52 week low of $91.35 and a 52 week high of $163.48. The stock has a fifty day simple moving average of $154.09 and a 200-day simple moving average of $148.18.

Crane (NYSE:CR) last issued its earnings results on Monday, July 29th. The conglomerate reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. As a group, sell-side analysts predict that Crane will post 7.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CR shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus raised their target price on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and an average price target of $157.33.

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.