Wall Street brokerages predict that Crane Company (NYSE:CR) will post sales of $684.63 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Crane’s earnings. The highest sales estimate is $692.90 million and the lowest is $677.00 million. Crane reported sales of $694.20 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The firm is expected to report its next earnings report on Monday, October 23rd.

According to Zacks, analysts expect that Crane will report full year sales of $684.63 million for the current financial year, with estimates ranging from $2.73 billion to $2.78 billion. For the next year, analysts anticipate that the firm will report sales of $2.90 billion per share, with estimates ranging from $2.85 billion to $2.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Crane.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The company had revenue of $702.50 million during the quarter, compared to analyst estimates of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share.

A number of research firms have recently weighed in on CR. Canaccord Genuity raised Crane from a “hold” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $92.00 in a research report on Tuesday, May 16th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Monday, July 17th. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Wolfe Research initiated coverage on Crane in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $84.00 price objective on shares of Crane in a report on Thursday, July 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $76.88.

Crane (CR) traded up 0.11% during midday trading on Tuesday, reaching $74.31. 135,792 shares of the company’s stock traded hands. Crane has a one year low of $59.81 and a one year high of $84.34. The stock’s 50 day moving average price is $76.44 and its 200-day moving average price is $76.75. The stock has a market cap of $4.43 billion, a PE ratio of 33.85 and a beta of 1.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, August 29th. Crane’s payout ratio is currently 60.83%.

In related news, VP Edward S. Switter sold 7,000 shares of Crane stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total transaction of $518,210.00. Following the transaction, the vice president now owns 23,873 shares in the company, valued at $1,767,318.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,200 shares of company stock worth $1,661,630. 3.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CR. ClariVest Asset Management LLC increased its stake in Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after buying an additional 200 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Crane by 33.3% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after buying an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after buying an additional 140 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after buying an additional 1,282 shares during the last quarter. Finally, Broderick Brian C purchased a new stake in shares of Crane during the first quarter worth $202,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

WARNING: This piece was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/02/684-63-million-in-sales-expected-for-crane-company-cr-this-quarter.html.

About Crane

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including 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.

Get a free copy of the Zacks research report on Crane (CR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Crane (NYSE:CR)

Receive News & Stock Ratings for Crane Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Company and related stocks with our FREE daily email newsletter.