Crane (CR) Scheduled to Post Quarterly Earnings on Monday

Crane (NYSE:CR) will be announcing its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Crane has set its FY24 guidance at $4.55-4.85 EPS and its FY 2024 guidance at 4.550-4.850 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $532.90 million during the quarter, compared to the consensus estimate of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. On average, analysts expect Crane to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Crane Stock Down 1.4 %

Shares of NYSE CR opened at $134.85 on Monday. The company has a 50 day simple moving average of $129.09 and a 200-day simple moving average of $113.49. The company has a market capitalization of $7.70 billion, a P/E ratio of 36.54, a P/E/G ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 1 year low of $67.28 and a 1 year high of $139.34.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.61%. This is an increase from Crane’s previous quarterly dividend of $0.18. Crane’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Investors Weigh In On Crane

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Crane by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,894,887 shares of the conglomerate’s stock valued at $578,282,000 after buying an additional 16,167 shares during the last quarter. BlackRock Inc. increased its stake in shares of Crane by 1.2% during the first quarter. BlackRock Inc. now owns 4,071,875 shares of the conglomerate’s stock worth $462,158,000 after acquiring an additional 46,506 shares during the period. State Street Corp increased its stake in shares of Crane by 93.0% during the second quarter. State Street Corp now owns 2,666,141 shares of the conglomerate’s stock worth $193,106,000 after acquiring an additional 1,285,048 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Crane by 76.8% during the second quarter. Gamco Investors INC. ET AL now owns 2,408,030 shares of the conglomerate’s stock worth $179,899,000 after acquiring an additional 1,046,295 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Crane by 63.6% during the second quarter. Alliancebernstein L.P. now owns 1,540,926 shares of the conglomerate’s stock worth $89,456,000 after acquiring an additional 599,080 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Crane from $124.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Bank of America boosted their price target on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, StockNews.com cut shares of Crane from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Crane Company Profile

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.