Crane (CR) Updates FY18 Earnings Guidance

Crane (NYSE:CR) updated its FY18 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $5.35-5.55 for the period, compared to the Thomson Reuters consensus estimate of $5.28.

A number of equities research analysts recently weighed in on the stock. Wolfe Research lowered shares of Crane from an outperform rating to a market perform rating in a report on Wednesday, October 25th. Seaport Global Securities upgraded shares of Crane from a neutral rating to a buy rating and lifted their price objective for the company from $78.00 to $95.00 in a report on Thursday, October 26th. Boenning Scattergood reiterated a hold rating on shares of Crane in a report on Tuesday, October 24th. Stifel Nicolaus reiterated a hold rating and set a $84.00 price objective on shares of Crane in a report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Crane from a hold rating to a buy rating in a report on Sunday, December 31st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $96.43.

Crane (CR) traded down $0.69 during trading hours on Monday, hitting $93.40. 227,551 shares of the stock traded hands, compared to its average volume of 283,150. Crane has a twelve month low of $67.62 and a twelve month high of $94.32. 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 company has a market cap of $5,570.00, a price-to-earnings ratio of 41.70, a P/E/G ratio of 1.83 and a beta of 1.17.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, January 29th. The conglomerate reported $1.18 EPS for the quarter, beating the consensus estimate of $1.17 by $0.01. Crane had a net margin of 4.96% and a return on equity of 20.70%. The business had revenue of $714.20 million during the quarter, compared to analyst estimates of $702.50 million. During the same quarter in the previous year, the business posted $1.02 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. sell-side analysts expect that Crane will post 4.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. This is a positive change from Crane’s previous quarterly dividend of $0.33. Crane’s payout ratio is currently 58.93%.

In other news, Director James L. L. Tullis sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $81.44, for a total value of $162,880.00. Following the completion of 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 SEC, which is available at the SEC website. Also, VP Augustus I. Dupont sold 3,556 shares of the business’s stock in a transaction dated 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 owns 80,560 shares of the company’s stock, valued at approximately $6,758,178.40. The disclosure for this sale can be found here. Insiders own 3.10% 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.

Earnings History and Estimates for Crane (NYSE:CR)

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