Crane (CR) Releases FY18 Earnings Guidance
Crane (NYSE:CR) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.85-5.05 for the period, compared to the Thomson Reuters consensus estimate of $5.07. Crane also updated its FY17 guidance to $4.45-4.55 EPS.
A number of equities research analysts recently weighed in on the company. Wolfe Research upgraded Crane from a market perform rating to an outperform rating in a research note on Monday, August 14th. Boenning Scattergood reiterated a hold rating on shares of Crane in a research report on Monday, October 2nd. BidaskClub cut Crane from a buy rating to a hold rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded Crane from a hold rating to a buy rating and set a $90.00 price objective on the stock in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a hold rating and set a $84.00 price objective on shares of Crane in a research report on Wednesday, October 4th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $93.33.
Crane (NYSE CR) opened at $82.54 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. Crane has a 12-month low of $67.62 and a 12-month high of $86.67. The company has a market capitalization of $4,979.46, a price-to-earnings ratio of 19.20, a P/E/G ratio of 1.84 and a beta of 1.17.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The company had revenue of $695.90 million for the quarter, compared to analysts’ expectations of $679.77 million. During the same quarter last year, the business earned $1.07 earnings per share. Crane’s revenue was up .2% on a year-over-year basis. analysts expect that Crane will post 4.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 30th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Wednesday, November 29th. Crane’s payout ratio is currently 59.19%.
In related news, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total value of $960,296.40. Following the sale, the vice president now directly owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James L. L Tullis sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the sale, the director now directly owns 2,110 shares in the company, valued at $171,838.40. The disclosure for this sale can be found here. Insiders sold 22,403 shares of company stock worth $1,896,288 in the last 90 days. 3.10% of the stock is owned by company insiders.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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