Crane (NYSE:CR) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Crane (NYSE:CR) posted 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. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million during the quarter, compared to analysts’ expectations of $546.39 million. During the same quarter in the previous year, the firm earned $1.25 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Crane updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

Crane Trading Up 5.8 %

Shares of CR opened at $138.27 on Wednesday. Crane has a 1 year low of $67.28 and a 1 year high of $139.54. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $130.01 and a 200-day simple moving average of $115.65. The stock has a market cap of $7.89 billion, a PE ratio of 37.47, a PEG ratio of 1.93 and a beta of 1.49.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be paid a $0.205 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.82 annualized dividend and a dividend yield of 0.59%. Crane’s dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

Several research firms recently weighed in on CR. Stifel Nicolaus boosted their price objective on Crane from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. StockNews.com cut Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Bank of America upped their price target on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.00.

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.