Wall Street analysts predict that Crane Company (NYSE:CR) will report $684.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Crane’s earnings, with the highest sales estimate coming in at $692.90 million and the lowest estimate coming in at $677.00 million. Crane reported sales of $694.20 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.4%. The business is expected to report its next quarterly earnings report after the market closes on Monday, October 23rd.

According to Zacks, analysts expect that Crane will report full-year sales of $684.63 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.79 billion. For the next year, analysts forecast that the company will report sales of $2.90 billion per share, with estimates ranging from $2.85 billion to $2.95 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Crane.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.17. The business 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%. Crane’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS.

Several research firms have recently issued reports on CR. Stifel Nicolaus restated a “hold” rating and set a $84.00 price objective on shares of Crane in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Monday, October 2nd. BidaskClub downgraded shares of Crane from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Wolfe Research upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Finally, Boenning Scattergood restated a “hold” rating on shares of Crane in a report on Monday, October 2nd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $76.38.

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Crane (CR) traded down 0.11% during mid-day trading on Thursday, reaching $80.63. 150,238 shares of the company’s stock were exchanged. Crane has a one year low of $59.81 and a one year high of $84.34. The firm has a market capitalization of $4.81 billion, a P/E ratio of 36.73 and a beta of 1.12. The company’s 50-day moving average is $76.27 and its 200 day moving average is $77.36.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 31st were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.32 annualized dividend and a yield of 1.64%. Crane’s dividend payout ratio (DPR) is presently 60.83%.

In other news, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $76.20, for a total transaction of $701,040.00. Following the sale, the vice president now owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $73.73, for a total transaction of $442,380.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,200 shares of company stock worth $1,661,630. 3.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of Crane by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock worth $4,288,000 after purchasing an additional 3,894 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Crane by 23.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after purchasing an additional 111,581 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Crane by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock worth $51,002,000 after purchasing an additional 11,670 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Crane during the 2nd quarter worth approximately $204,000. Finally, American Century Companies Inc. grew its stake in shares of Crane by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 98,750 shares of the conglomerate’s stock worth $7,839,000 after purchasing an additional 29,150 shares during the period. 69.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Crane (NYSE:CR)

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