Crane (NYSE:CR) Issues Earnings Results

Crane (NYSE:CR) issued its quarterly earnings data on Monday. The conglomerate reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10, Briefing.com reports. The firm had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. Crane updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

Crane Stock Performance

Shares of NYSE:CR opened at $130.76 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 1-year low of $67.28 and a 1-year high of $139.34. The stock has a market capitalization of $7.47 billion, a P/E ratio of 35.44, a P/E/G ratio of 1.93 and a beta of 1.49. The business has a 50-day moving average price of $129.69 and a two-hundred day moving average price of $115.30.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were issued a $0.205 dividend. This is a boost from Crane’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 28th. This represents a $0.82 annualized dividend and a yield of 0.63%. Crane’s dividend payout ratio (DPR) is currently 22.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CR shares. StockNews.com cut Crane from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus lifted their price target on Crane from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Bank of America increased their price objective on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Crane has a consensus rating of “Moderate Buy” and a consensus target price of $125.00.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.