Crane Company (CR) Expected to Post Quarterly Sales of $683.28 Million
Equities analysts expect Crane Company (NYSE:CR) to report sales of $683.28 million for the current quarter, Zacks reports. Four analysts have made estimates for Crane’s earnings, with the highest sales estimate coming in at $689.00 million and the lowest estimate coming in at $677.00 million. Crane posted sales of $694.20 million in the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The company is expected to issue its next earnings report on Monday, October 23rd.
On average, analysts expect that Crane will report full-year sales of $683.28 million for the current year, with estimates ranging from $2.73 billion to $2.79 billion. For the next financial year, analysts anticipate that the business will post sales of $2.90 billion per share, with estimates ranging from $2.85 billion to $2.94 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Crane.
Crane (NYSE:CR) last posted its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $679.77 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share.
CR has been the subject of a number of research analyst reports. BidaskClub downgraded Crane from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Wolfe Research initiated coverage on Crane in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $85.00 price target on shares of Crane in a research report on Friday, July 14th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $76.38.
In related news, VP Kristian Robert Salovaara sold 9,200 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the sale, the vice president now owns 24,786 shares in the company, valued at approximately $1,888,693.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edward S. Switter sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the sale, the vice president now owns 23,873 shares of the company’s stock, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. Insiders sold a total of 22,200 shares of company stock valued at $1,661,630 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC lifted its position in Crane by 33.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after buying an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Crane by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after buying an additional 140 shares during the last quarter. Global X Management Co. LLC lifted its position in Crane by 221.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares during the last quarter. Howe & Rusling Inc. lifted its position in Crane by 88.5% in the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after purchasing an additional 1,057 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Crane in the second quarter valued at approximately $204,000. Institutional investors own 69.42% of the company’s stock.
Crane (CR) opened at 83.61 on Tuesday. The stock has a 50 day moving average of $78.91 and a 200-day moving average of $78.07. Crane has a 12-month low of $62.55 and a 12-month high of $84.52. The company has a market cap of $4.98 billion, a PE ratio of 38.09 and a beta of 1.12.
The company also recently announced 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 yield of 1.58%. Crane’s payout ratio is 60.83%.
Crane Company Profile
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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