$786.78 Million in Sales Expected for Crane Co. (CR) This Quarter

Wall Street analysts expect that Crane Co. (NYSE:CR) will announce sales of $786.78 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Crane’s earnings. The lowest sales estimate is $708.40 million and the highest is $828.50 million. Crane reported sales of $673.40 million during the same quarter last year, which indicates a positive year over year growth rate of 16.8%. The company is expected to announce its next earnings report on Monday, April 23rd.

According to Zacks, analysts expect that Crane will report full year sales of $786.78 million for the current financial year, with estimates ranging from $2.88 billion to $3.36 billion. For the next financial year, analysts expect that the business will post sales of $3.32 billion per share, with estimates ranging from $3.06 billion to $3.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Crane.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, January 29th. The conglomerate reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The company had revenue of $714.20 million for the quarter, compared to the consensus estimate of $702.50 million. During the same period in the prior year, the firm posted $1.02 EPS. Crane’s revenue for the quarter was up 4.8% on a year-over-year basis.

Several analysts recently commented on CR shares. Boenning Scattergood reissued a “hold” rating on shares of Crane in a research report on Tuesday, October 24th. Stifel Nicolaus increased their price objective on shares of Crane from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Wolfe Research downgraded shares of Crane from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Oppenheimer reissued 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. Finally, Bank of America raised their price target on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Crane has a consensus rating of “Buy” and an average price target of $106.28.

In other 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 value of $162,880.00. Following the transaction, the director now owns 2,110 shares in the company, valued at approximately $171,838.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Augustus I. Dupont sold 16,396 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $97.74, for a total transaction of $1,602,545.04. Following the completion of the transaction, the vice president now owns 102,994 shares in the company, valued at approximately $10,066,633.56. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in Crane by 3.0% during the 4th quarter. Swiss National Bank now owns 81,200 shares of the conglomerate’s stock worth $7,245,000 after acquiring an additional 2,400 shares during the period. California Public Employees Retirement System raised its stake in Crane by 2.8% during the 4th quarter. California Public Employees Retirement System now owns 139,168 shares of the conglomerate’s stock worth $12,417,000 after acquiring an additional 3,856 shares during the period. M&T Bank Corp raised its stake in Crane by 22.0% during the 4th quarter. M&T Bank Corp now owns 4,695 shares of the conglomerate’s stock worth $418,000 after acquiring an additional 846 shares during the period. Teacher Retirement System of Texas raised its stake in Crane by 312.3% during the 4th quarter. Teacher Retirement System of Texas now owns 16,257 shares of the conglomerate’s stock worth $1,450,000 after acquiring an additional 12,314 shares during the period. Finally, Price Capital Management Inc. bought a new stake in Crane during the 4th quarter worth approximately $648,000. Institutional investors own 67.53% of the company’s stock.

Shares of Crane (NYSE CR) opened at $93.09 on Thursday. Crane has a 1 year low of $70.56 and a 1 year high of $102.65. The company has a market cap of $5,560.49, a PE ratio of 32.78, a P/E/G ratio of 1.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.40 and a current ratio of 1.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, February 27th. This is a boost from Crane’s previous quarterly dividend of $0.33. Crane’s dividend payout ratio is 46.48%.

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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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