Zacks: Analysts Expect Crane Co. (CR) Will Announce Earnings of $1.17 Per Share

Equities research analysts expect Crane Co. (NYSE:CR) to announce $1.17 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Crane’s earnings, with estimates ranging from $1.13 to $1.20. Crane posted earnings per share of $1.02 in the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The company is expected to report its next quarterly earnings results after the market closes on Monday, January 29th.

According to Zacks, analysts expect that Crane will report full year earnings of $4.53 per share for the current financial year, with EPS estimates ranging from $4.50 to $4.55. For the next financial year, analysts forecast that the business will report earnings of $5.12 per share, with EPS estimates ranging from $4.85 to $5.44. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow 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 Zacks’ 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 firm had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up .2% compared to the same quarter last year.

A number of research analysts have issued reports on the stock. AltaCorp Capital restated a “buy” rating on shares of Crane in a research report on Monday, January 15th. Scotiabank restated a “buy” rating on shares of Crane in a research report on Tuesday, October 10th. Canaccord Genuity restated a “buy” rating on shares of Crane in a research report on Friday, November 3rd. Seaport Global Securities upgraded shares of Crane from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Finally, Bank of America increased their target price 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $95.83.

Shares of Crane (CR) traded up $0.58 during trading hours on Friday, hitting $93.13. 331,241 shares of the company’s stock were exchanged, compared to its average volume of 297,613. Crane has a 1 year low of $67.62 and a 1 year high of $93.59. The firm has a market cap of $5,550.00, a price-to-earnings ratio of 41.58, a PEG ratio of 1.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.96 and a current ratio of 2.66.

In related news, Director James L. L. Tullis sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total transaction of $162,880.00. Following the sale, the director now owns 2,110 shares in the company, valued at approximately $171,838.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP A D. Pantaleoni sold 4,650 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $83.11, for a total transaction of $386,461.50. Following the sale, the vice president now owns 1,076 shares in the company, valued at approximately $89,426.36. The disclosure for this sale can be found here. Insiders have sold a total of 22,403 shares of company stock worth $1,896,288 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Crane by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock valued at $326,871,000 after purchasing an additional 95,817 shares during the last quarter. BlackRock Inc. lifted its stake in Crane by 2.0% in the 2nd quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after purchasing an additional 80,055 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Crane by 13.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock valued at $115,195,000 after purchasing an additional 167,051 shares during the last quarter. State Street Corp lifted its stake in Crane by 2.1% in the 2nd quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock valued at $102,771,000 after purchasing an additional 26,771 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Crane by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock valued at $90,797,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

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About Crane

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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Earnings History and Estimates for Crane (NYSE:CR)

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