FY2018 Earnings Forecast for Crane Company (CR) Issued By Oppenheimer
Crane Company (NYSE:CR) – Investment analysts at Oppenheimer reduced their FY2018 earnings per share estimates for shares of Crane in a research note issued on Wednesday. Oppenheimer analyst J. Giannakouros now anticipates that the conglomerate will post earnings per share of $4.95 for the year, down from their previous estimate of $5.05. Oppenheimer has a “Buy” rating on the stock. Oppenheimer also issued estimates for Crane’s FY2019 earnings at $5.45 EPS.
A number of other research analysts have also commented on CR. Canaccord Genuity reiterated a “buy” rating and set a $95.00 price objective on shares of Crane in a research note on Tuesday, December 5th. Wolfe Research upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Boenning Scattergood reiterated a “hold” rating on shares of Crane in a research note on Monday, October 2nd. BidaskClub lowered shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $93.83.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $679.77 million. During the same quarter last year, the business earned $1.07 earnings per share. Crane’s revenue was up .2% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Crane by 2.4% during the second quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock worth $326,871,000 after buying an additional 95,817 shares in the last quarter. BlackRock Inc. boosted its holdings in Crane by 2.0% during the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock worth $323,668,000 after buying an additional 80,055 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Crane by 13.1% during the third quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock worth $115,195,000 after buying an additional 167,051 shares in the last quarter. State Street Corp boosted its holdings in Crane by 2.1% during the second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock worth $102,771,000 after buying an additional 26,771 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in Crane by 0.4% during the third quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock worth $90,797,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
In related news, VP A D. Pantaleoni sold 4,650 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $83.11, for a total transaction of $386,461.50. Following the completion of the sale, the vice president now directly owns 1,076 shares in the company, valued at $89,426.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction that occurred on 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. Insiders have sold 22,403 shares of company stock valued at $1,896,288 over the last 90 days. 3.10% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Thursday, November 30th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, November 29th. 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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