Crane (CR) Releases FY 2018 Earnings Guidance
Crane (NYSE:CR) issued an update on its FY 2018 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.80-5.90 for the period, compared to the Thomson Reuters consensus estimate of $5.75.
CR traded down $0.23 during trading hours on Monday, reaching $87.33. The company’s stock had a trading volume of 370,515 shares, compared to its average volume of 293,127. Crane has a fifty-two week low of $78.93 and a fifty-two week high of $102.65. The stock has a market capitalization of $5.22 billion, a PE ratio of 19.28, a P/E/G ratio of 1.58 and a beta of 1.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.12 and a current ratio of 1.60.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 23rd. The conglomerate reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. Crane had a return on equity of 21.72% and a net margin of 6.17%. The firm had revenue of $851.00 million for the quarter, compared to analysts’ expectations of $834.45 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts forecast that Crane will post 5.76 earnings per share for the current fiscal year.
A number of research analysts recently commented on CR shares. UBS Group upped their price objective on Crane from $100.00 to $105.00 and gave the company a buy rating in a report on Thursday, August 30th. Zacks Investment Research cut Crane from a hold rating to a sell rating in a research note on Wednesday, October 10th. Stifel Nicolaus upped their price target on Crane from $115.00 to $117.00 and gave the stock a buy rating in a research note on Monday, October 8th. Finally, ValuEngine cut Crane from a hold rating to a sell rating in a research note on Monday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $107.44.
In other Crane news, insider Brendan Curran sold 3,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $91.07, for a total transaction of $273,210.00. Following the transaction, the insider now directly owns 14,346 shares in the company, valued at $1,306,490.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Curtis A. Baron, Jr. sold 5,199 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $90.87, for a total value of $472,433.13. Following the transaction, the vice president now owns 7,230 shares in the company, valued at $656,990.10. The disclosure for this sale can be found here. Insiders have sold 83,531 shares of company stock worth $7,477,261 over the last 90 days. 3.00% of the stock is owned by insiders.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including 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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