Crane (CR) Scheduled to Post Quarterly Earnings on Monday

Crane (NYSE:CR) will be announcing its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Crane has set its FY24 guidance at $4.55-4.85 EPS and its FY 2024 guidance at 4.550-4.850 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Crane (NYSE:CR) last released its earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $532.90 million for the quarter, compared to the consensus estimate of $519.55 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. On average, analysts expect Crane to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Crane Price Performance

NYSE CR opened at $134.85 on Monday. The company has a market capitalization of $7.70 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. 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 business’s fifty day moving average is $129.09 and its 200 day moving average is $113.49. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $139.34.

Crane Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 annualized dividend and a yield of 0.61%. Crane’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stifel Nicolaus boosted their price objective on Crane from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Bank of America boosted their price objective on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, StockNews.com downgraded Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.00.

Institutional Investors Weigh In On Crane

Large investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. grew its stake in shares of Crane by 100.0% during the second quarter. Harbour Investments Inc. now owns 2,348 shares of the conglomerate’s stock valued at $171,000 after buying an additional 1,174 shares during the last quarter. Covestor Ltd grew its stake in shares of Crane by 92.5% during the first quarter. Covestor Ltd now owns 1,511 shares of the conglomerate’s stock valued at $164,000 after buying an additional 726 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of Crane during the first quarter valued at approximately $147,000. NewEdge Advisors LLC grew its stake in shares of Crane by 18.5% during the first quarter. NewEdge Advisors LLC now owns 1,153 shares of the conglomerate’s stock valued at $131,000 after buying an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Crane by 14.1% during the first quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock valued at $116,000 after buying an additional 133 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Crane Company Profile

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.