Crane (CR) To Go Ex-Dividend on May 31st

Crane (NYSE:CR) announced a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.205 per share by the conglomerate on Wednesday, June 12th. This represents a $0.82 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, May 31st.

Crane has decreased its dividend by an average of 16.3% per year over the last three years and has increased its dividend every year for the last 1 years. Crane has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Stock Up 5.8 %

Shares of CR stock opened at $138.27 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a one year low of $67.28 and a one year high of $139.54. The company’s fifty day moving average price is $130.01 and its 200-day moving average price is $115.65. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.93 and a beta of 1.49.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CR. Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a report on Wednesday. StockNews.com cut shares of Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Stifel Nicolaus boosted their price target on shares of Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Bank of America raised their price objective on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and a consensus price target of $126.40.

About Crane

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.