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

Crane (NYSE:CR) posted its quarterly earnings results on Monday. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10, Briefing.com reports. The firm had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business 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 CR stock opened at $130.76 on Tuesday. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.93 and a beta of 1.49. The company’s 50-day simple moving average is $129.69 and its 200-day simple moving average is $115.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a one year low of $67.28 and a one year high of $139.34.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 0.63%. This is an increase from Crane’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 28th. Crane’s dividend payout ratio is 22.22%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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 research report on Tuesday, March 5th. StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stifel Nicolaus boosted their price objective on Crane from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.