Zacks: Brokerages Anticipate Crane Co. (CR) Will Post Quarterly Sales of $709.48 Million

Equities research analysts predict that Crane Co. (NYSE:CR) will announce $709.48 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued 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 in the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The business is scheduled to report its next quarterly earnings report after the market closes on Monday, January 29th.

On average, analysts expect that Crane will report full-year sales of $709.48 million for the current financial year, with estimates ranging from $2.77 billion to $2.80 billion. For the next year, analysts forecast that the business will post sales of $2.90 billion per share, with estimates ranging from $2.86 billion to $2.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Crane.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The business 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 EPS. Crane’s revenue was up .2% compared to the same quarter last year.

A number of research firms recently weighed in on CR. AltaCorp Capital reiterated a “buy” rating on shares of Crane in a research note on Monday, January 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $99.00 price objective (up from $87.00) on shares of Crane in a research note on Tuesday, January 16th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Canaccord Genuity reiterated a “buy” rating and issued a $95.00 price objective on shares of Crane in a research note on Tuesday, December 5th. Finally, Oppenheimer reiterated a “buy” rating on shares of Crane in a research note on Tuesday, December 5th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Crane presently has a consensus rating of “Buy” and an average price target of $95.83.

Crane (NYSE:CR) opened at $93.13 on Monday. Crane has a one year low of $67.62 and a one year high of $93.59. The firm has a market cap of $5,527.27, a P/E ratio of 41.76, a P/E/G ratio of 1.81 and a beta of 1.17. The company has a quick ratio of 1.96, a current ratio of 2.66 and a debt-to-equity ratio of 0.54.

In other news, VP Augustus I. Dupont sold 3,556 shares of Crane stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $83.89, for a total transaction of $298,312.84. Following the completion of the sale, the vice president now directly owns 80,560 shares of the company’s stock, valued at approximately $6,758,178.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. L. Tullis sold 2,000 shares of Crane stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the sale, the director now directly owns 2,110 shares of the company’s stock, valued at $171,838.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,403 shares of company stock valued at $1,896,288 over the last 90 days. Company insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Crane by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock worth $326,871,000 after acquiring an additional 95,817 shares during the last quarter. BlackRock Inc. lifted its stake in Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock worth $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 third quarter. Principal Financial Group Inc. now owns 1,440,120 shares of the conglomerate’s stock worth $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 second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock worth $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 third quarter. Gabelli Funds LLC now owns 1,135,100 shares of the conglomerate’s stock worth $90,797,000 after purchasing an additional 4,000 shares during the last quarter. 68.30% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for Crane (NYSE:CR)

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