$684.63 Million in Sales Expected for Crane Company (CR) This Quarter
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.
TRADEMARK VIOLATION NOTICE: “$684.63 Million in Sales Expected for Crane Company (CR) This Quarter” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/08/684-63-million-in-sales-expected-for-crane-company-cr-this-quarter-2.html.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.