Crane (NYSE:CR) Releases Earnings Results

Crane (NYSE:CR) issued its quarterly earnings data on Monday. The conglomerate reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10, Briefing.com reports. The business had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Crane updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

Crane Stock Up 1.0 %

Shares of NYSE CR opened at $130.76 on Tuesday. Crane has a 12-month low of $67.28 and a 12-month high of $139.34. The stock has a market cap of $7.47 billion, a PE ratio of 35.44, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $129.69 and a 200 day moving average of $115.30.

Crane Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from Crane’s previous quarterly dividend of $0.18. Crane’s dividend payout ratio is currently 22.22%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CR shares. StockNews.com downgraded shares of Crane from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America upped their price target on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus upped their price target on shares of Crane from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Crane presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.00.

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.