Brokers Set Expectations for Crane Co.’s FY2018 Earnings (CR)
Crane Co. (NYSE:CR) – Research analysts at William Blair issued their FY2018 earnings per share estimates for Crane in a report released on Monday. William Blair analyst C. Jacobson expects that the firm will post earnings of $4.75 per share for the year.
A number of other analysts have also recently weighed in on CR. Royal Bank Of Canada boosted their target price on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised shares of Crane from a “sell” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, July 27th. RBC Capital Markets reissued a “sector perform” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Crane in a research note on Wednesday, July 27th. Bank of America Corp. raised shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research note on Friday, July 29th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Crane in a research note on Friday, August 5th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $60.08.
Crane (NYSE:CR) traded up 0.66% during trading on Tuesday, reaching $74.89. The company’s stock had a trading volume of 194,046 shares. Crane has a 12 month low of $41.68 and a 12 month high of $75.00. The stock’s 50-day moving average is $66.24 and its 200 day moving average is $61.67. The company has a market cap of $4.39 billion, a P/E ratio of 17.54 and a beta of 1.13.
Crane (NYSE:CR) last issued its quarterly earnings data 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. The business had revenue of $694 million for the quarter, compared to the consensus estimate of $666.89 million. Crane had a return on equity of 20.59% and a net margin of 9.17%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, November 28th. This represents a $1.32 annualized dividend and a dividend yield of 1.77%. Crane’s dividend payout ratio is currently 30.99%.
In other news, VP Augustus I. Dupont sold 3,000 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $68.29, for a total transaction of $204,870.00. Following the completion of the sale, the vice president now directly owns 93,753 shares of the company’s stock, valued at $6,402,392.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Philip R. Lochner sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $68.26, for a total transaction of $136,520.00. Following the sale, the director now directly owns 2,350 shares of the company’s stock, valued at $160,411. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Oakbrook Investments LLC increased its stake in Crane by 16.0% in the second quarter. Oakbrook Investments LLC now owns 5,081 shares of the company’s stock valued at $288,000 after buying an additional 700 shares during the last quarter. LS Investment Advisors LLC increased its stake in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock valued at $173,000 after buying an additional 1,305 shares during the last quarter. Palo Capital Inc. increased its stake in Crane by 138.3% in the second quarter. Palo Capital Inc. now owns 13,518 shares of the company’s stock valued at $766,000 after buying an additional 7,846 shares during the last quarter. Perkins Capital Management Inc. acquired a new stake in Crane during the second quarter valued at approximately $465,000. Finally, Reinhart Partners Inc. increased its stake in Crane by 3.5% in the second quarter. Reinhart Partners Inc. now owns 24,700 shares of the company’s stock valued at $1,401,000 after buying an additional 840 shares during the last quarter. 67.23% of the stock is owned by 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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