Wall Street analysts expect that Crane Co. (NYSE:CR) will report earnings per share of $1.55 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Crane’s earnings. The highest EPS estimate is $1.62 and the lowest is $1.52. Crane posted earnings of $1.62 per share in the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The business is expected to issue its next earnings results on Monday, October 28th.
According to Zacks, analysts expect that Crane will report full-year earnings of $6.39 per share for the current financial year, with EPS estimates ranging from $6.35 to $6.45. For the next financial year, analysts forecast that the business will post earnings of $7.05 per share, with EPS estimates ranging from $6.95 to $7.14. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Crane.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 22nd. The conglomerate reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.03. Crane had a return on equity of 24.24% and a net margin of 10.67%. The company had revenue of $841.60 million during the quarter, compared to analysts’ expectations of $833.30 million. During the same period last year, the business posted $1.41 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year.
In related news, VP James A. Lavish sold 650 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $86.36, for a total transaction of $56,134.00. Following the sale, the vice president now directly owns 16,359 shares of the company’s stock, valued at $1,412,763.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James L. L. Tullis bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $78.13 per share, for a total transaction of $78,130.00. Following the completion of the acquisition, the director now owns 1,110 shares of the company’s stock, valued at $86,724.30. The disclosure for this purchase can be found here. Company insiders own 3.39% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in Crane during the second quarter worth about $25,000. Quadrant Capital Group LLC grew its holdings in Crane by 563.5% in the first quarter. Quadrant Capital Group LLC now owns 345 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 293 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Crane in the second quarter valued at approximately $31,000. Redhawk Wealth Advisors Inc. acquired a new stake in Crane in the second quarter valued at approximately $33,000. Finally, Icon Wealth Partners LLC acquired a new stake in Crane in the first quarter valued at approximately $47,000. 68.52% of the stock is currently owned by hedge funds and other institutional investors.
Crane stock traded down $1.91 during midday trading on Friday, reaching $72.81. The company’s stock had a trading volume of 291,866 shares, compared to its average volume of 309,155. The stock’s 50-day simple moving average is $81.30 and its 200-day simple moving average is $83.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.17 and a quick ratio of 1.50. Crane has a 52-week low of $67.18 and a 52-week high of $100.14. The stock has a market capitalization of $4.48 billion, a P/E ratio of 12.16, a PEG ratio of 1.87 and a beta of 1.34.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Saturday, August 31st will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, August 29th. Crane’s payout ratio is 26.04%.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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