Crane Co. (CR) Expected to Post FY2019 Earnings of $5.65 Per Share
Crane Co. (NYSE:CR) – Investment analysts at Gabelli dropped their FY2019 earnings estimates for Crane in a report released on Wednesday. Gabelli analyst J. Foung now forecasts that the firm will post earnings of $5.65 per share for the year, down from their prior forecast of $5.70. Gabelli also issued estimates for Crane’s FY2020 earnings at $6.35 EPS.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a report on Thursday. Credit Suisse Group AG set a $8.00 target price on Crane and gave the stock a “hold” rating in a report on Sunday, November 6th. Canaccord Genuity raised their target price on Crane from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, October 26th. Stifel Nicolaus raised their target price on Crane from $65.00 to $69.00 and gave the stock a “hold” rating in a report on Wednesday, October 26th. Finally, Avondale Partners reaffirmed a “market perform” rating on shares of Crane in a report on Wednesday, October 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $60.08.
Shares of Crane (NYSE:CR) traded up 1.16% during midday trading on Friday, reaching $73.54. The company’s stock had a trading volume of 294,534 shares. The company’s 50-day moving average price is $64.28 and its 200-day moving average price is $60.79. The company has a market cap of $4.30 billion, a PE ratio of 17.22 and a beta of 1.13. Crane has a 12 month low of $41.68 and a 12 month high of $73.62.
Crane (NYSE:CR) last posted its earnings results on Monday, October 24th. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.06. Crane had a return on equity of 20.59% and a net margin of 9.17%. The business earned $694 million during the quarter, compared to analysts’ expectations of $666.89 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 30th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, November 28th. Crane’s payout ratio is 30.99%.
In related news, VP Augustus I. Dupont sold 3,000 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $68.29, for a total value of $204,870.00. Following the completion of the transaction, the vice president now owns 93,753 shares of the company’s stock, valued at approximately $6,402,392.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Philip R. Lochner sold 4,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $152,515. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CR. Krasney Financial LLC increased its position in shares of Crane by 0.5% in the second quarter. Krasney Financial LLC now owns 4,674 shares of the company’s stock worth $265,000 after buying an additional 21 shares during the last quarter. M&T Bank Corp increased its position in shares of Crane by 0.7% in the third quarter. M&T Bank Corp now owns 4,383 shares of the company’s stock worth $276,000 after buying an additional 32 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Crane by 0.7% in the second quarter. Capstone Asset Management Co. now owns 5,679 shares of the company’s stock worth $322,000 after buying an additional 40 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Crane by 5.6% in the third quarter. LS Investment Advisors LLC now owns 3,226 shares of the company’s stock worth $203,000 after buying an additional 170 shares during the last quarter. Finally, Synovus Financial Corp increased its position in shares of Crane by 5.3% in the third quarter. Synovus Financial Corp now owns 3,669 shares of the company’s stock worth $231,000 after buying an additional 184 shares during the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.
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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