Research Analysts Set Expectations for Crane Co.’s Q3 2016 Earnings (CR)
Crane Co. (NYSE:CR) – Stock analysts at Avondale Partners issued their Q3 2016 earnings per share estimates for shares of Crane in a research note issued on Wednesday. Avondale Partners analyst I. Maryasis forecasts that the brokerage will earn $1.07 per share for the quarter. Avondale Partners has a “Market Perform” rating on the stock.
Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The company earned $712.20 million during the quarter, compared to analyst estimates of $697.13 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year.
Several other research analysts have also recently commented on CR. RBC Capital Markets reiterated a “sector perform” rating and issued a $63.00 target price (up from $57.00) on shares of Crane in a report on Wednesday, July 27th. Royal Bank Of Canada raised their target price on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating and set a $69.00 target price for the company in a report on Wednesday, July 27th. Alembic Global Advisors began coverage on shares of Crane in a report on Monday, July 11th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Crane in a report on Friday, August 5th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.00.
Shares of Crane (NYSE:CR) opened at 60.78 on Friday. The stock has a 50 day moving average of $62.55 and a 200 day moving average of $59.16. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 14.61 and a beta of 1.37. Crane has a 52-week low of $41.68 and a 52-week high of $65.88.
Several institutional investors have recently added to or reduced their stakes in CR. Parametrica Management Ltd purchased a new position in Crane during the third quarter worth approximately $211,000. CenturyLink Investment Management Co purchased a new position in Crane during the third quarter worth approximately $1,614,000. Creative Planning raised its position in Crane by 2,413.2% in the third quarter. Creative Planning now owns 25,710 shares of the company’s stock worth $1,620,000 after buying an additional 24,687 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Crane by 4.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,054 shares of the company’s stock worth $1,075,000 after buying an additional 736 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new position in Crane during the second quarter worth approximately $1,282,000. 67.40% of the stock is currently owned by institutional investors.
In other news, insider Thomas J. Craney sold 3,915 shares of Crane stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $64.54, for a total value of $252,674.10. Following the transaction, the insider now owns 20,062 shares of the company’s stock, valued at $1,294,801.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Philip R. Lochner sold 4,000 shares of Crane stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $64.90, for a total transaction of $259,600.00. Following the completion of the transaction, the director now directly owns 2,350 shares in the company, valued at approximately $152,515. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Crane Company Profile
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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