Equities research analysts forecast that Crane Company (NYSE:CR) will announce sales of $709.62 million for the current quarter, according to Zacks. Five analysts have provided estimates for Crane’s earnings, with the highest sales estimate coming in at $728.00 million and the lowest estimate coming in at $697.50 million. Crane posted sales of $681.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.1%. The company is expected to issue its next earnings report on Monday, January 29th.
On average, analysts expect that Crane will report full-year sales of $709.62 million for the current fiscal year, with estimates ranging from $2.77 billion to $2.80 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.94 billion per share, with estimates ranging from $2.88 billion to $2.96 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Crane.
Crane (NYSE:CR) last announced its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The company had revenue of $695.90 million during the quarter, compared to analyst estimates of $679.77 million. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year.
In other news, Director James L. L. Tullis sold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Augustus I. Dupont sold 11,130 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $86.28, for a total transaction of $960,296.40. Following the sale, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of CR. Aperio Group LLC boosted its holdings in shares of Crane by 29.5% during the second quarter. Aperio Group LLC now owns 17,180 shares of the conglomerate’s stock worth $1,364,000 after purchasing an additional 3,911 shares during the period. State Treasurer State of Michigan raised its stake in Crane by 2.0% in the second quarter. State Treasurer State of Michigan now owns 20,832 shares of the conglomerate’s stock worth $1,654,000 after buying an additional 400 shares in the last quarter. US Bancorp DE raised its stake in Crane by 1.5% in the second quarter. US Bancorp DE now owns 9,473 shares of the conglomerate’s stock worth $752,000 after buying an additional 140 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Crane by 61.3% in the second quarter. Russell Investments Group Ltd. now owns 75,420 shares of the conglomerate’s stock worth $5,988,000 after buying an additional 28,654 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Crane by 1,116.2% in the second quarter. Acadian Asset Management LLC now owns 6,288 shares of the conglomerate’s stock worth $499,000 after buying an additional 5,771 shares in the last quarter. Institutional investors own 68.33% of the company’s stock.
Crane (CR) traded down $1.99 during midday trading on Friday, reaching $83.38. 291,393 shares of the company’s stock traded hands, compared to its average volume of 210,706. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54. Crane has a twelve month low of $67.62 and a twelve month high of $86.67. The stock has a market capitalization of $5,066.70, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.32 annualized dividend and a yield of 1.58%. Crane’s payout ratio is 59.19%.
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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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