Crane Company (NYSE:CR) – Research analysts at Oppenheimer Holdings decreased their Q3 2017 earnings per share estimates for shares of Crane in a research report issued on Tuesday. Oppenheimer Holdings analyst J. Giannakouros now expects that the conglomerate will earn $1.08 per share for the quarter, down from their previous estimate of $1.16. Oppenheimer Holdings has a “Outperform” rating and a $90.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Crane’s FY2017 earnings at $4.45 EPS.
Crane (NYSE:CR) last announced its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. The business had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 EPS.
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Several other equities research analysts have also recently weighed in on CR. William Blair upgraded shares of Crane from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 25th. Stifel Nicolaus boosted their price objective on shares of Crane from $80.00 to $84.00 and gave the company a “hold” rating in a research report on Wednesday, April 26th. TheStreet upgraded shares of Crane from a “c+” rating to a “b+” rating in a research report on Monday, April 24th. Canaccord Genuity upgraded shares of Crane from a “hold” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $92.00 in a research report on Tuesday, May 16th. Finally, Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Thursday, May 18th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $76.88.
Shares of Crane (NYSE CR) opened at 75.48 on Friday. The stock has a market cap of $4.49 billion, a PE ratio of 34.29 and a beta of 1.11. Crane has a 12 month low of $59.81 and a 12 month high of $84.34. The firm’s 50-day moving average is $80.19 and its 200 day moving average is $76.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, August 29th. Crane’s dividend payout ratio is currently 60.83%.
In other news, VP Curtis A. Baron, Jr. sold 5,364 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $79.60, for a total transaction of $426,974.40. Following the completion of the sale, the vice president now directly owns 18,044 shares of the company’s stock, valued at $1,436,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. ClariVest Asset Management LLC raised its stake in shares of Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after buying an additional 200 shares in the last quarter. Broderick Brian C bought a new stake in shares of Crane during the first quarter worth about $202,000. Janney Capital Management LLC bought a new stake in shares of Crane during the first quarter worth about $227,000. World Asset Management Inc raised its stake in shares of Crane by 2.4% in the first quarter. World Asset Management Inc now owns 3,093 shares of the conglomerate’s stock worth $231,000 after buying an additional 72 shares in the last quarter. Finally, TLP Group LLC bought a new stake in shares of Crane during the first quarter worth about $254,000. 69.04% of the stock is owned by hedge funds and other institutional investors.
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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