Wall Street analysts expect Crane Co. (NYSE:CR) to report $836.53 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Crane’s earnings. The lowest sales estimate is $833.40 million and the highest is $839.70 million. Crane reported sales of $851.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, July 22nd.

On average, analysts expect that Crane will report full-year sales of $3.34 billion for the current fiscal year, with estimates ranging from $3.33 billion to $3.34 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.47 billion, with estimates ranging from $3.43 billion to $3.53 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Crane.

Crane (NYSE:CR) last announced its earnings results on Monday, April 29th. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.06. Crane had a return on equity of 24.49% and a net margin of 10.34%. The business had revenue of $831.70 million for the quarter, compared to analyst estimates of $792.39 million. During the same quarter last year, the firm earned $1.31 EPS. Crane’s revenue for the quarter was up 4.1% compared to the same quarter last year.

A number of research firms have weighed in on CR. Buckingham Research decreased their price target on Crane from $102.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. UBS Group restated a “buy” rating and issued a $70.00 price target on shares of Lumentum in a research note on Thursday, April 11th. Finally, Zacks Investment Research downgraded Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $93.02.

In related news, Director James L. L Tullis purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $78.13 per share, for a total transaction of $78,130.00. Following the completion of the purchase, the director now directly owns 1,110 shares in the company, valued at $86,724.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.39% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Crane by 6.4% during the 1st quarter. BlackRock Inc. now owns 7,610,872 shares of the conglomerate’s stock worth $644,031,000 after acquiring an additional 460,568 shares during the period. Vanguard Group Inc boosted its stake in shares of Crane by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 4,426,179 shares of the conglomerate’s stock worth $435,315,000 after acquiring an additional 41,941 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Crane by 8.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,080,417 shares of the conglomerate’s stock worth $91,425,000 after acquiring an additional 85,550 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Crane by 9.5% during the 4th quarter. Lord Abbett & CO. LLC now owns 847,599 shares of the conglomerate’s stock worth $61,180,000 after acquiring an additional 73,280 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Crane by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 636,202 shares of the conglomerate’s stock worth $45,921,000 after acquiring an additional 16,790 shares during the period. Institutional investors own 69.48% of the company’s stock.

Crane stock traded up $1.61 during midday trading on Friday, reaching $83.10. The stock had a trading volume of 235,299 shares, compared to its average volume of 313,310. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $81.00. The stock has a market capitalization of $4.88 billion, a PE ratio of 13.87, a P/E/G ratio of 2.04 and a beta of 1.36. Crane has a 1-year low of $67.18 and a 1-year high of $100.14.

About Crane

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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