FY2018 EPS Estimates for Crane Company (CR) Reduced by Boenning Scattergood
Crane Company (NYSE:CR) – Boenning Scattergood lowered their FY2018 earnings estimates for Crane in a report issued on Monday. Boenning Scattergood analyst R. Connors now forecasts that the conglomerate will post earnings of $4.85 per share for the year, down from their previous estimate of $4.90. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Crane’s Q4 2018 earnings at $1.19 EPS.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS 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 business had revenue of $702.50 million for the quarter, compared to analysts’ expectations of $702.53 million. During the same period last year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis.
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CR has been the subject of several other research reports. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Wolfe Research initiated coverage on Crane in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. BidaskClub upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. ValuEngine upgraded Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Crane in a report on Monday, September 25th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Crane currently has a consensus rating of “Buy” and an average price target of $76.50.
Crane (NYSE CR) traded up 0.43% during trading on Tuesday, hitting $81.16. The stock had a trading volume of 122,722 shares. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 36.97 and a beta of 1.11. The firm’s 50-day moving average price is $75.59 and its 200-day moving average price is $77.22. Crane has a 52-week low of $59.81 and a 52-week high of $84.34.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Crane by 9,355.1% during the 1st quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock worth $299,129,000 after purchasing an additional 3,955,159 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Crane by 115.7% during the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after buying an additional 682,934 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Crane by 31.7% during the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock worth $114,772,000 after buying an additional 369,589 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Crane by 69.0% during the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after buying an additional 261,354 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Crane by 1,866.9% during the second quarter. SG Americas Securities LLC now owns 275,056 shares of the conglomerate’s stock worth $21,834,000 after buying an additional 261,072 shares in the last quarter. Institutional investors own 69.42% of the company’s stock.
In related news, Director E Thayer Bigelow sold 6,000 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the transaction, the vice president now directly owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,200 shares of company stock worth $1,661,630. Company insiders own 3.10% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 31st were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. Crane’s dividend payout ratio (DPR) is presently 60.83%.
Crane Company Profile
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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