FY2018 EPS Estimates for Crane Company (CR) Increased by Analyst
Crane Company (NYSE:CR) – William Blair raised their FY2018 earnings per share estimates for Crane in a note issued to investors on Thursday. William Blair analyst N. Heymann now anticipates that the conglomerate will post earnings per share of $5.05 for the year, up from their prior estimate of $5.00.
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 Zacks’ consensus estimate of $1.17. Crane had a return on equity of 20.57% and a net margin of 4.79%. The firm had revenue of $702.50 million during the quarter, compared to the consensus estimate of $702.53 million. During the same period last year, the company earned $1.21 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year.
Several other research firms have also issued reports on CR. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 target price on shares of Crane in a report on Friday, July 14th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Monday, July 17th. Wolfe Research began coverage on Crane in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. BidaskClub raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, ValuEngine raised Crane from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Crane presently has an average rating of “Buy” and an average price target of $76.88.
Shares of Crane (NYSE CR) traded down 0.202% on Monday, hitting $76.615. The stock had a trading volume of 44,342 shares. Crane has a 52 week low of $59.81 and a 52 week high of $84.34. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 34.904 and a beta of 1.11. The company has a 50-day moving average of $74.55 and a 200 day moving average of $76.86.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 31st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, August 29th. Crane’s payout ratio is currently 60.83%.
In other news, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $73.73, for a total value of $442,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now directly owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The disclosure for this sale can be found here. Insiders sold 22,200 shares of company stock valued at $1,661,630 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Crane by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,117,785 shares of the conglomerate’s stock worth $326,871,000 after acquiring an additional 95,817 shares during the period. BlackRock Inc. boosted its holdings in shares of Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock worth $323,668,000 after acquiring an additional 80,055 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock worth $114,772,000 after acquiring an additional 369,589 shares during the period. State Street Corp boosted its holdings in shares of Crane by 2.1% in the second quarter. State Street Corp now owns 1,294,600 shares of the conglomerate’s stock worth $102,771,000 after acquiring an additional 26,771 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Crane by 115.7% in the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after acquiring an additional 682,934 shares during the period. 69.42% of the stock is owned by hedge funds and other institutional investors.
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.
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