Crane (CR) Issues FY17 Earnings Guidance
Crane (NYSE:CR) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.45-4.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.53. Crane also updated its FY18 guidance to $4.85-5.05 EPS.
A number of brokerages recently issued reports on CR. Wolfe Research cut shares of Crane from an outperform rating to a market perform rating in a research report on Wednesday, October 25th. Seaport Global Securities upgraded shares of Crane from a neutral rating to a buy rating and increased their target price for the stock from $78.00 to $95.00 in a research report on Thursday, October 26th. Boenning Scattergood reiterated a hold rating on shares of Crane in a research report on Tuesday, October 24th. Stifel Nicolaus reiterated a hold rating and set a $84.00 target price on shares of Crane in a research report on Wednesday, October 4th. Finally, Canaccord Genuity reiterated a buy rating on shares of Crane in a research report on Friday, November 3rd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Crane has an average rating of Buy and an average target price of $93.33.
Shares of Crane (NYSE CR) traded down $1.36 during trading hours on Tuesday, reaching $82.54. 239,983 shares of the company’s stock were exchanged, compared to its average volume of 315,428. Crane has a 12-month low of $67.62 and a 12-month high of $86.67. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54. The company has a market cap of $4,948.59, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.82 and a beta of 1.17.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million for the quarter, compared to analyst estimates of $679.77 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue was up .2% on a year-over-year basis. analysts expect that Crane will post 4.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s dividend payout ratio is currently 59.19%.
In other news, VP Augustus I. Dupont sold 11,130 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the transaction, the vice president now owns 84,116 shares of the company’s stock, valued at approximately $7,257,528.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Thayer Bigelow sold 1,067 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $82.79, for a total transaction of $88,336.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,403 shares of company stock worth $1,896,288. Insiders own 3.10% of the company’s stock.
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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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