Crane (CR) Updates FY18 Earnings Guidance
Crane (NYSE:CR) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.85-5.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.07. Crane also updated its FY17 guidance to $4.45-4.55 EPS.
A number of research firms have commented on CR. Scotiabank reaffirmed a buy rating on shares of Crane in a research report on Tuesday, October 10th. Bank of America lifted their price objective on shares of Crane from $90.00 to $104.00 and gave the stock a buy rating in a research report on Wednesday, October 25th. Seaport Global Securities raised shares of Crane from a neutral rating to a buy rating and lifted their price objective for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Canaccord Genuity reaffirmed a buy rating on shares of Crane in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a buy rating and set a $92.00 price objective (up from $88.00) on shares of Crane in a research report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $93.33.
Shares of Crane (NYSE:CR) traded down $1.36 during trading on Tuesday, hitting $82.54. 239,983 shares of the stock were exchanged, compared to its average volume of 315,428. The company has a market capitalization of $4,948.59, a PE ratio of 19.08, a PEG ratio of 1.82 and a beta of 1.17. Crane has a 52 week low of $67.62 and a 52 week high of $86.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.60%. Crane’s payout ratio is presently 59.19%.
In related news, Director James L. L. Tullis sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of the transaction, the director now owns 2,110 shares of the company’s stock, valued at $171,838.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Augustus I. Dupont sold 11,130 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the completion of the transaction, the vice president now directly owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The disclosure for this sale can be found here. In the last three months, insiders sold 22,403 shares of company stock valued at $1,896,288. 3.10% of the stock is currently owned by company insiders.
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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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