Crane Co. (NYSE:CR) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.35-4.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.45.
Shares of Crane Co. (NYSE:CR) opened at 77.45 on Wednesday. Crane Co. has a 1-year low of $54.05 and a 1-year high of $82.35. The stock’s 50 day moving average is $77.35 and its 200 day moving average is $74.69. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 35.19 and a beta of 1.19.
Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 24th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. Crane had a return on equity of 20.23% and a net margin of 4.47%. The firm had revenue of $673.40 million during the quarter, compared to analysts’ expectations of $655.84 million. During the same period in the prior year, the business earned $0.93 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Crane Co. will post $4.50 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Wednesday, May 31st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 26th. Crane’s payout ratio is currently 64.08%.
Several brokerages recently weighed in on CR. Stifel Nicolaus increased their target price on Crane from $80.00 to $84.00 and gave the company a hold rating in a report on Wednesday, April 26th. Canaccord Genuity upgraded Crane from a hold rating to a buy rating and increased their target price for the company from $78.00 to $92.00 in a report on Tuesday, May 16th. Oppenheimer Holdings Inc. restated an outperform rating and set a $90.00 target price (up from $82.00) on shares of Crane in a report on Monday, May 1st. William Blair upgraded Crane from a market perform rating to an outperform rating in a report on Tuesday, April 25th. Finally, Seaport Global Securities cut Crane from an accumulate rating to a neutral rating and increased their target price for the company from $71.00 to $72.00 in a report on Wednesday, February 1st. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Crane currently has an average rating of Buy and a consensus price target of $72.36.
In related news, VP Curtis A. Baron, Jr. sold 5,364 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $79.60, for a total transaction of $426,974.40. Following the completion of the transaction, the vice president now owns 18,044 shares of the company’s stock, valued at approximately $1,436,302.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard A. Maue sold 14,528 shares of Crane stock in a transaction on Friday, April 28th. The stock was sold at an average price of $79.83, for a total value of $1,159,770.24. Following the completion of the sale, the vice president now directly owns 28,906 shares of the company’s stock, valued at approximately $2,307,565.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,261 shares of company stock valued at $3,025,932. 3.00% of the stock is owned by corporate insiders.
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Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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