Oppenheimer Holdings Weighs in on Crane Co.’s FY2016 Earnings (CR)
Crane Co. (NYSE:CR) – Equities researchers at Oppenheimer Holdings issued their FY2016 EPS estimates for Crane in a report issued on Wednesday. Oppenheimer Holdings analyst J. Giannakouros anticipates that the firm will post earnings per share of $4.20 for the year. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Crane’s Q4 2016 earnings at $0.98 EPS, FY2017 earnings at $4.35 EPS and FY2018 earnings at $4.75 EPS.
Crane (NYSE:CR) last released 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 had revenue of $694 million for the quarter, compared to the consensus estimate of $666.89 million. During the same period in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year.
Several other equities research analysts also recently weighed in on CR. Credit Suisse Group AG set a $8.00 price target on Crane and gave the stock a “hold” rating in a report on Sunday, November 6th. RBC Capital Markets reiterated a “sector perform” rating and issued a $63.00 price target (up from $57.00) on shares of Crane in a report on Wednesday, July 27th. Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating and set a $69.00 price target on the stock in a report on Wednesday, July 27th. 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 report on Wednesday, July 27th. Finally, Bank of America Corp. upgraded Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price objective on the stock in a report on Friday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.08.
Shares of Crane (NYSE:CR) opened at 74.40 on Monday. Crane has a 12-month low of $41.68 and a 12-month high of $74.71. The company has a market capitalization of $4.36 billion, a P/E ratio of 17.42 and a beta of 1.13. The firm has a 50-day moving average price of $66.24 and a 200 day moving average price of $61.67.
Hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC boosted 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 worth $173,000 after buying an additional 1,305 shares during the last quarter. Palo Capital Inc. boosted its stake in Crane by 138.3% in the second quarter. Palo Capital Inc. now owns 13,518 shares of the company’s stock worth $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 worth $465,000. Reinhart Partners Inc. boosted its stake in Crane by 3.5% in the second quarter. Reinhart Partners Inc. now owns 24,700 shares of the company’s stock worth $1,401,000 after buying an additional 840 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in Crane during the second quarter worth $10,643,000. 67.23% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Philip R. Lochner sold 2,000 shares of Crane stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $68.26, for a total value of $136,520.00. Following the transaction, the director now directly owns 2,350 shares in the company, valued at approximately $160,411. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Thayer Bigelow sold 4,000 shares of Crane stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $64.96, for a total value of $259,840.00. Following the completion of the transaction, the director now owns 21,791 shares in the company, valued at $1,415,543.36. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 30th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%. Crane’s dividend payout ratio is presently 30.99%.
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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