Crane (NYSE:CR) Issues Earnings Results, Beats Estimates By $0.35 EPS
Crane (NYSE:CR) announced its quarterly earnings results on Sunday. The conglomerate reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.35, MarketWatch Earnings reports. The company had revenue of $833.50 million for the quarter, compared to the consensus estimate of $771.33 million. Crane had a return on equity of 18.09% and a net margin of 0.71%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS.
Crane stock traded up $2.76 during trading on Tuesday, hitting $97.50. The company had a trading volume of 503,807 shares, compared to its average volume of 274,105. Crane has a 1-year low of $44.23 and a 1-year high of $99.32. The company has a current ratio of 1.42, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $94.28 and its 200-day simple moving average is $79.18. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 256.59 and a beta of 1.65.
In related news, CFO Richard A. Maue sold 15,822 shares of Crane stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $83.12, for a total value of $1,315,124.64. Following the completion of the sale, the chief financial officer now owns 93,075 shares in the company, valued at approximately $7,736,394. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by company insiders.
Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.
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