Crane Co. (CR) Updates FY14 Earnings Guidance
Crane Co. (NYSE:CR) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.55-4.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.70, Analyst Ratings Network reports. The company issued revenue guidance of $3.0 billion, compared to the consensus revenue estimate of $3.19 billion.
On a related note, analysts at FBR Capital Markets raised their price target on shares of Crane from $65.00 to $70.00 in a research note to investors on Friday, November 1st. They now have an outperform rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Crane currently has a consensus rating of Buy and an average target price of $51.83.
Shares of Crane Co. (NYSE:CR) opened at 64.78 on Tuesday. Crane Co. has a 1-year low of $48.80 and a 1-year high of $69.21. The stock’s 50-day moving average is $66.82 and its 200-day moving average is $62.. The company has a market cap of $3.767 billion and a price-to-earnings ratio of 17.60.
Crane (NYSE:CR) last announced its earnings results on Monday, January 27th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by $0.11. On average, analysts predict that Crane Co. will post $4.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders of record on Friday, February 28th will be paid a dividend of 0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.85%.
Crane Co (NYSE:CR) is a diversified manufacturer of engineered industrial products.
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