Equities Analysts Offer Predictions for Crane Co.’s Q2 2017 Earnings (CR)
Crane Co. (NYSE:CR) – Equities researchers at Seaport Global Securities upped their Q2 2017 earnings estimates for Crane in a report issued on Thursday. Seaport Global Securities analyst R. Cassil now forecasts that the firm will post earnings per share of $1.18 for the quarter, up from their prior forecast of $1.16. Seaport Global Securities also issued estimates for Crane’s Q3 2017 earnings at $1.07 EPS, Q4 2017 earnings at $1.10 EPS and FY2017 earnings at $4.27 EPS.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.19. The business had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. Crane had a net margin of 9.01% and a return on equity of 21.25%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share.
A number of other research firms also recently issued reports on CR. Credit Suisse Group AG reissued a “hold” rating on shares of Crane in a research report on Friday, August 5th. Zacks Investment Research raised Crane from a “sell” rating to a “hold” rating in a research report on Monday. RBC Capital Markets reissued a “sector perform” rating and set a $63.00 price target (up previously from $57.00) on shares of Crane in a research report on Wednesday, July 27th. Bank of America Corp. raised Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Friday, July 29th. Finally, Royal Bank Of Canada increased their price target on Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $62.00.
Crane (NYSE:CR) opened at 61.72 on Monday. Crane has a 12 month low of $41.68 and a 12 month high of $65.88. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 14.84 and a beta of 1.37. The firm’s 50-day moving average price is $63.35 and its 200 day moving average price is $58.84.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Monday, August 29th. Crane’s dividend payout ratio (DPR) is presently 31.73%.
In other news, insider Thomas J. Craney sold 3,915 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $64.54, for a total value of $252,674.10. Following the completion of the transaction, the insider now directly owns 20,062 shares in the company, valued at $1,294,801.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Louis V. Pinkham sold 16,576 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $65.32, for a total value of $1,082,744.32. Following the completion of the transaction, the insider now owns 20,449 shares of the company’s stock, valued at $1,335,728.68. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Freestone Capital Holdings LLC boosted its position in shares of Crane by 1,221.1% in the second quarter. Freestone Capital Holdings LLC now owns 335,531 shares of the company’s stock valued at $19,031,000 after buying an additional 310,133 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Crane by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,869,873 shares of the company’s stock valued at $219,500,000 after buying an additional 265,637 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Crane by 113.5% in the first quarter. BlackRock Group LTD now owns 424,658 shares of the company’s stock valued at $22,871,000 after buying an additional 225,790 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Crane by 1,176.5% in the second quarter. SG Americas Securities LLC now owns 243,517 shares of the company’s stock valued at $13,812,000 after buying an additional 224,440 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Crane during the second quarter valued at about $11,362,000. Hedge funds and other institutional investors own 67.40% of the company’s stock.
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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