DA Davidson Weighs in on Crane Co.’s Q2 2022 Earnings (NYSE:CR)

Crane Co. (NYSE:CR – Get Rating) – Equities research analysts at DA Davidson issued their Q2 2022 earnings per share estimates for Crane in a research report issued on Wednesday, April 27th. DA Davidson analyst M. Summerville anticipates that the conglomerate will earn $1.69 per share for the quarter.

Crane (NYSE:CR – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The conglomerate reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.13. Crane had a return on equity of 22.53% and a net margin of 13.46%. The company had revenue of $801.10 million during the quarter, compared to analysts’ expectations of $800.76 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year.

A number of other equities analysts have also commented on CR. Stifel Nicolaus dropped their price objective on Crane from $137.00 to $134.00 in a research note on Monday, April 18th. Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating and set a $107.00 price objective on the stock in a research note on Thursday, January 27th. StockNews.com lowered Crane from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price target on Crane from $111.00 to $116.00 and gave the company an “equal weight” rating in a research note on Monday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $121.00.

Crane stock opened at $95.88 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.64 and a current ratio of 2.19. The business’s 50-day simple moving average is $104.61 and its 200-day simple moving average is $102.55. The firm has a market capitalization of $5.39 billion, a PE ratio of 13.04, a PEG ratio of 1.57 and a beta of 1.65. Crane has a 52 week low of $84.68 and a 52 week high of $114.87.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. Crane’s dividend payout ratio is currently 25.58%.

Several hedge funds have recently added to or reduced their stakes in CR. Louisiana State Employees Retirement System boosted its holdings in shares of Crane by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the conglomerate’s stock worth $1,302,000 after acquiring an additional 100 shares in the last quarter. Kalos Management Inc. lifted its holdings in Crane by 2.0% during the 4th quarter. Kalos Management Inc. now owns 5,843 shares of the conglomerate’s stock worth $626,000 after buying an additional 114 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Crane by 58.9% during the 4th quarter. Quadrant Capital Group LLC now owns 375 shares of the conglomerate’s stock worth $38,000 after buying an additional 139 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Crane by 49.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 427 shares of the conglomerate’s stock worth $40,000 after buying an additional 141 shares in the last quarter. Finally, Greenleaf Trust raised its position in shares of Crane by 4.4% during the 3rd quarter. Greenleaf Trust now owns 3,423 shares of the conglomerate’s stock valued at $325,000 after acquiring an additional 145 shares during the last quarter. Institutional investors own 69.73% of the company’s stock.

About Crane (Get Rating)

Crane Co, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The Aerospace & Electronics segment offers original equipment and aftermarket parts under the Hydro-Aire, ELDEC, Lear Romec, P.L.

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