Crane (NYSE:CR) Posts Earnings Results, Beats Estimates By $0.10 EPS

Crane (NYSE:CR) posted its quarterly earnings results on Monday. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10, Briefing.com reports. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. During the same quarter in the prior year, the company earned $1.25 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Crane updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

Crane Stock Up 5.8 %

Shares of CR stock opened at $138.27 on Wednesday. Crane has a 1-year low of $67.28 and a 1-year high of $139.54. The stock’s fifty day moving average price is $130.01 and its 200 day moving average price is $115.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.82 annualized dividend and a yield of 0.59%. Crane’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CR shares. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. StockNews.com lowered shares of Crane from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Stifel Nicolaus increased their price objective on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Bank of America raised their price objective on Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.40.

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.