Crane (NYSE:CR) Updates FY24 Earnings Guidance

Crane (NYSE:CR) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.75-5.05 for the period, compared to the consensus earnings per share estimate of $4.82. The company issued revenue guidance of $2.30 billion, compared to the consensus revenue estimate of $2.25 billion. Crane also updated its FY 2024 guidance to 4.750-5.050 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Crane from $135.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. StockNews.com lowered shares of Crane from a buy rating to a hold rating in a research note on Friday. Finally, Bank of America lifted their price target on shares of Crane from $110.00 to $140.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $125.00.

Crane Trading Up 1.0 %

NYSE CR opened at $130.76 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm 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. Crane has a one year low of $67.28 and a one year high of $139.34. The firm’s fifty day moving average is $129.69 and its two-hundred day moving average is $115.30.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, January 29th. The conglomerate reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $532.90 million for the quarter, compared to analyst estimates of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

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

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.